Portola Hills Real Estate Market Update – 3rd Quarter Snapshot

If you were a seller, you’ve felt like the market slowed down this summer, you’re not imagining it. Portola Hills homes, which typically sell in under 30 days, took an average of 64 days to move this quarter. Many sellers were waiting and watching for offers that took a little longer to arrive. But when interest rates dipped, everything shifted. Purchase applications jumped 30% , and suddenly, those “just-looking” buyers became serious again. The market energy is changing; and that’s something both buyers and sellers should be watching closely. Inventory increased, mostly due to resales in IronRidge and new builds in The Oaks , which naturally stretches out the average days on market. Still, well-priced and well-presented homes continue to sell quickly — my most recent listings closed in under two weeks . What It Means for Portola Hills Sellers If you’ve been waiting for the “perfect time” to list, don’t wait much longer. As demand begins to rise and r...