Portola Hills Homeowners Received over $700,000 in Profit in June
June was a busy month in the real estate market and Portola Hills was no exception; Just in time, before we see the market begin to shift with summer distractions no less. Ready for this figure, homeowners who sold in June, received an over $700,000 in extra profit. That is amount of money they received over the list price. Unfortunately not all seller's had these results, surprisingly there were sellers who sold below market value as well.
Below is a snapshot of the how the Portola Hills real estate market finished in June.
If the home was priced right, presented well and available to see, most homeowners should have received multiple offers. However, we did see in June a few homes sell below market and/or reduce pricing. With the low inventory and high buyer demand this makes me wonder how strong the negotiations were. In this market it is critical to work with an agent who's strength is in negotiations and will ensure your best interest are being looked after. Buyers are putting some crazy details in their offers, like no inspections contingencies, no loan etc. But is the best for the Seller, not always and can result in issues up to the very end of the transaction or well after. This is why we highly recommend working with a seasoned agent who has been through a market like this before.
We are starting to see a slight shift in the market, which is good news for buyers. But is it a seasonal shift or long term? It looks to be a seasonal shift as inventory remains low and interest rates remain low, providing buyers the perfect move up opportunity. But homes are starting to stay on the market a bit longer, which also provides buyers a little bit more breathing room when it comes to competition.
We are super excited to have secured Record Breaking Sales for our Clients in June.
- Listed for $875,000
- Sold for $982,000
- 4 Days on the Market
- Kelly Turbeville Represented Seller
- Listed for $998,000
- Sold for $1,135,000
- 10 days on the Market
- Kelly Turbeville Represented Seller & Buyer