A Quarantined Portola Hills Real Estate Market
We are in about our 7th week of quarantine in Orange County and if you are anything like me, I am sure you are getting restless. We just really hope no one in the community has been too affected by this virus either with their health or financially. We get many questions asking how the real estate market is performing during this time? The good news is, it is hanging in there. This is not like 2008! The current inventory levels are extremely low compared to what we saw during the last recession. The biggest impact to the real estate market is going to be unemployment, but pleasantly the numbers and activity in Portola Hills remained strong in April, as you can see below! Looking at the above numbers you can see the strength of the market in two indicators. First the list to sale price ratio. Seller's received over 100% of what they were requesting when they listed their home. Actually the received over! Most likely from multiple offers. The second indicator is the months o