Portola Hills July Market Growth. Was it Sales or Inventory?
The real story this month isn't the number of homes for sale. It's the difference between the single family and attached home markets. Single family homes that sold in July averaged just six days on the market . Attached homes, on the other hand, averaged 75 days before selling. That's a dramatic difference, and it's consistent with what we're seeing throughout Orange County. Why? Affordability continues to be the biggest challenge. Condo buyers are typically more sensitive to monthly payment than buyers in the detached home market. When you combine today's mortgage rates with property taxes, homeowners insurance, and steadily increasing HOA dues, the total monthly cost can easily add another $1,000 or more beyond the mortgage payment. Buyers aren't just shopping for a purchase price anymore. They're shopping for a monthly payment they can live with. Search Portola Hills Homes If you're thinking about selling a condo, it's important to un...