Portola Hills Homes are Selling for What?
What would you say if I told you pricing right now is right on track! You would probably say, pricing is crazy! I recently attended Keller Williams Economic Recap and Forecast and a couple of details really hit me. Because I too, even being in the business, was thinking this pricing is crazy! Then I saw this graph.
This above graph shows the average home prices over the last 20 years has averaged about 4%. That is below the historical average of 6-8% before the downturn in 2008-2011. Portola Hills saw appreciation of over 20% last year, so while that is great, it really was just the market making up for downturn. Four percent appreciation is a very healthy real estate market.
|Annual Home Appreciation|
So how does this relate to the Portola Hills real estate market. Let's look at how the market performed last month.
As you can see the market remains very strong. Homeowners who sold in February received 103% to their list price and sold very quickly with the average days on the market being 12. The preliminary numbers for March, will break records.
If you are thinking of a move, but concerned about where you will go, we need to talk. We have strategies in place that ensure you get top dollar for your home and not have to make the move until we find your next home. (Ask me about being a Knock Certified Agent.) Waiting until you find your next home to list your current home will not put you in a competitive advantage and will cost you more money with higher interest rates and higher appreciation on your next home.
Our goal is to understand both your short and long-term goals so we can help you achieve them. Maybe you are not ready to move, but do understand the power of leveraging your equity. Let's chat about how we have helped clients take advantage of todays market without making a move. We are here to assist you with all your real estate needs.