It's a Ho, Ho, Hot Portola Hills Real Estate Market

 

We took a look at the current real estate market and we only have 1 wish for Santa this Christmas... More Listings please!! 

Overall, in the OC inventory is at record lows.  We are entering unprecedented levels when it comes to the number of homes on the market and available to buyers.   



So we anticipate the market to remain strong in 2022, but there are a couple of factors that you should be aware of... but first let's look at how the Portola Hills real estate market performed last month. 


Portola Hills Homes


As you can see in the above report the Portola Hills real estate market is extremely strong.  Currently there are only 6 Active Listings and 27 properties under contract.  That means we have less than half a month of inventory for prospective buyers.  With the majority of those homes, being new homes in IronRidge and Portola Oaks.

The 3 hottest neighborhoods that sold in November were:

  • Montecido at an average price of $590,000
  • Serenado at an average price of $885,667
  • IronRidge at an average price of $1,187,500
Keep in mind, these are average pricing, some homes in those communities may have sold for less or more depending on the model.  

Available Homes in Portola Hills


If you are thinking about a move in 2022.  We highly recommend considering your move sooner than later!  Why, we know two very important aspects that will impact what you can purchase.  First, interest rates, which we anticipate to increase up to nearly 4% in 2022 and second inventory, which we already know is low and will add to further appreciation of homes.  With these two increases, it will actually cost you less to move earlier in the year.

What is the value of my Portola Hills Home?



We are here to review your goals and help you put a plan in place to ensure your goals are met.  We are happy to note we beat the market in 2021 with our sales. The average sales to ratio list price in Portola Hills was 102%, our clients average 112%... Woo hoo.  We would love to do the same for you. 




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