Portola Hills Real Estate Market and COVID19
Wanted to give residents a quick update on what is happening in the Portola Hills real estate market since COVID19 landed on Orange Counties lovely doorstep. The Portola Hills real estate market started 2020 in a very strong Sellers Market. With Inventory low and demand high! Low interest rates were bringing winter buyers out early. Below is a look at the how the real estate market in Portola Hills is doing currently.
Year to Date Sales:
- 25 Homes Sales
- Average Specs: 3 Bedroom/ 3 Bath / 2018 sq.ft.
- Average Price: $789,158
- Days on the Market: 34
Home Values up 20% from the same time period in 2019
Currently there are 20 active homes on the market, with 13 of those being new builds in IronRidge and The Oaks. There are also 5 homes in Hold status.
The directive from the California Association of Realtors, is Realtors are not allowed to hold open houses or do any face to face showings until the stay is lifted. We are working to get further clarification if we are in contract and or if a home is vacant, etc. At GPS real estate group we are completely set up to handle our business virtually.
The homes that are on hold above, are placed on hold so there are no showings. But what that also does is stop the clock on the Days on the Market. Which is good thing since this out of the sellers control.
Take a listen to our newest market update video and if you have any questions please do not hesitate to give me a call direct.
If you were planning on a move this spring, give us a call to schedule a virtual consultation. We will go over with you what is happening in your neighborhood, along with what is happening in the overall market and provide you some tips to get your home ready for when the market opens up. We will also go over with you how we promote your home to target buyers.
Searching for a home, download the NEW KW CONSUMER APP
Stay healthy, Stay Safe, Stay Inside!