Fire, Evacuations, Wind didn't stop the Portola Hills Real Estate Market in October

Wow, October was a crazy month for our community!  Unfortunately the community had a slight scare with the Silverado Fire as it inched closer to Portola Hills and through part of Whiting Ranch.  The good news is the OCFA kept us safe with no homes near the fire, the community was evacuated as a precaution.

Through it all, real estate continued to remain strong with 13 homes selling during the month of October.  The highest price home that sold in the community was $1,400,000 in the IronRidge community.  The lowest price home was $450,000 in the Canyon View community.  The average price of a home that sold in Portola Hills was $764,551.  Check out the details below. 

What is the value of my Portola Hills Home?

The overall real estate market in Orange County remains very strong this fall. Low inventory and high buyer demand continues to drive up pricing.  As we approach the holidays, inventory will remain low.  This is also driving buyers to new homes, which in Portola Hills has spurred price gains.  Currently new homes sales are up about 35%.  Remember if you are looking at a new home, ask a Realtor to help you with the leg work.  It is really important to have someone in your corner who can help you with negotiations.  Take a peek at a previous article we wrote just about that! 

Portola Hills October 2020 real estate market

With new administration coming into the play in 2021, the certainty of the strength of the market is questionable.  Will interest rates remain low?  Will prices drop? Will the job market continue to strengthen? I don't have answers to those questions.  What we know now is interest rates now are averaging under 3% and sellers are selling their homes for over asking and receiving multiple offers.  So if you are thinking of selling, NOW is the time to take advantage of those aspects.  However as I always say, the right time to sell is when it is the right time for you.  

We are here to help you determine if now is the right time or if you waiting is right for you.  We provide an objective opinion of what is happening in your local market! Don't hesitate to give us a call direct to discuss any of your real estate questions! 

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