There is no fooling how the new communities in Portola Hills are impacting pricing.
If you have drove through Portola Hills, you will notice the building of the new communities is in full effect. All positive for the community with the addition of new parks, shopping and trailways. But how does it impact values Below is a summary of what sold the first quarter of this year in Portola Hills. As of this time no, new homes show closed in the last quarter. However, currently there are 24 homes active in Portola Hills and 22 of them are all new builds. This means the inventory is increasing, the area typically has less then 10 homes available this time of year.
Below is a look at how the real estate market performed.
If you are thinking of a move this year, now truly is the time to list your home. As more inventory comes available this will impact your home. Certainly we should see values increase but that really depends on the mix of homes and often times we see resales take a dip in pricing, until the sale through of the new homes is complete. Why, everyone loves pretty new homes! Buyers will be comparing your home to those lovelies and to a certain degree it must compete.
However, in any real estate market, pricing is subject to shift and with the new inventory, increased interest rates on the horizon buyers are wanting to buy now. That means you have a huge opportunity to get your home sold now before both these events take place on this hill.
Of course we would love to help you get your home sold. We have buyers calling us daily looking for homes in the area and are currently building our interest list. If you would like to include your home on our list for potential buyers, please do not hesitate to contact us.
Other information you may find helpful:
Keller Williams Mission Viejo the only OC Real Estate Office in Real Trends Top 500
Keller Williams noted as #1 Real Estate Firm in the Country
Competition is Coming