Values and Volume up in Portola Hills during Covid 19
Who says people don't buy homes during a pandemic? Looking at the real estate market this past July for the Portola Hills community, sales volume increased 38% from the same time period in 2019, buyer demand is extremely strong! Though there are concerns with unemployment, the rest of the market is pretty strong in the OC.
My interruption from working with clients is, all this time at home is highlighting what doesn't work in their current home. That, along with the low interest rates, strong equity position, sellers are looking to sell and move up to their dream home. Also, those who rent see that with the low interest rates it is literally cheaper to buy right now! Finally home represents security and I think we all are looking for a bit more of that in our lives these days.... would you agree?
Below is a quick snapshot of how the real estate market preformed in July:
With interest rates hovering below 3% this has become the real estate market you have been waiting for. Right now homeowners have the opportunity to sell their home for top dollar, due to the low inventory and purchase their new home for less. In addition, it is also helps first time buyers with affordability. So if you are thinking of a move, let's chat about your goals and priorities, we promise to provide you a strategy that ensures they are both met!
In other news, our team, GPS real estate group is hosting a food drive in the Month of August to support South County Outreach. We will be picking up food the weekend of the August 15th. If you would like to participate, you can let us know right here!