Showing posts with the label Keller Williams

Sales Volume down Prices up in Portola Hills Real Estate Market

As fall hits the calendar, we typically see a seasonal change in the real estate market.  Generally speaking it can be the best time to buy a home has homes that did not sell over summer, will start to see price drops and the hot selling season is over. That really hasn't been the case since before the pandemic however. Even this year, though sales volume is down, home sellers are still receiving top dollar for their home and in fact often times over list price.  That is certainly the case here in Portola Hills. Below is a look at how the Portola Hills real estate market performed in September, as you can see very strong.  We had a total of 8 homes sell and 7 went under contract.  The average days on the market is just 15 days.    Are you thinking about making a move but not sure if it is the right time for you?   Are you wishing you were living closer to family.   Did you know the number 1 reason people are making a move right now is just that, to be near family.   Search Availabl

That Home Sold for What in Portola Hills?

Congratulations to another KW client who just moved into the Portola Hills neighborhood of Serenado.  The Serenado community is a fairly small community of 166 homes and part of the Portola Hills II homeowners association. There are 3 floor plans: Rhapsody: 3 bedroom, 2.5 bath, 1561 sq.ft. 2 car garage Concerto:  3 bedroom, 3 bath, 1771 sq.ft. 2 car garage Symphony: 3 bedroom, 2.5 bath, 1891 sq. ft. 2 car garage I wrote a blog back in 2015 with more details of this tract and since then homes have just about doubled in value.  Here is a look at the overall values today!  Right now, offers Portola Hills homes sellers in the Serenado tract and excellent opportunity to take advantage of their equity growth.  Whether you are thinking about selling and moving up or downsizing into your next home,  utilizing some of your equity to upgrade the home or leveraging it into an investment property, we are here. We will review with you if you can benefit from Prop 19, which allows you to take your t

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.  Home Prices 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 The biggest hurdle to the market right now is inventory of homes.  There simply has not been enough building to keep up with demand since the downturn.  How we catch up is going to be a challenge certainly for the near future.  Below is a look at the inventory of homes an

There is no fooling how the new communities in Portola Hills are impacting pricing.

If you have drove through Portola Hills, you will notice the building of the new communities is in full effect.   All positive for the community with the addition of new parks, shopping and trailways.  But how does it impact values   Below is a summary of what sold the first quarter of this year in Portola Hills.  As of this time no, new homes show closed in the last quarter.   However, currently there are 24 homes active in Portola Hills and 22 of them are all new builds.  This means the inventory is increasing, the area typically has less then 10 homes available this time of year. Below is a look at how the real estate market performed. If you are thinking of a move this year, now truly is the time to list your home.  As more inventory comes available this will impact your home.   Certainly we should see values increase but that really depends on the mix of homes and often times we see resales take a dip in pricing, until the sale through of the new homes is complete.