Portola Hills February Market Report.... Hot, Hot, Hot!!

We took a look at the Portola Hills real estate market and in one word, CRAZY! Sales volume is up, values are up, inventory of available homes is way down! Even at the new communities there is low inventory of available homes.  That means, Sellers can pretty much ask what they want for their home and if it is priced right, buyers are coming with aggressive offers. 

Portola Hills Real Estate February Market Report by Kelly Turbeville

As you can see from the above, values are up about 24% from the same time period last year.  That was right before Covid, landed on our doorsteps.  Who would have thought, we would see such strong growth during a pandemic. 

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Buyer's have an insatiable demand for homes right now and want to take advantage of the low interest rates.  They are open to competing for the right home, and removing contingencies, etc. to ensure their offer is at least in consideration.  However, the offers are so strong, Seller's aren't even countering as they have a number of good offers to choose from.

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Are we at the peak of the market?  Will you leave money on the table if you wait to list?  All we know is what is happening today.  We do anticipate interest rates will increase and values are projected to increase through summer, should that change then the answer to the above questions is yes!


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