Showing posts with the label Oct home values

A spooky pause for Portola Hills Real Estate in October? It's all perspective..

What a difference a year makes in Real Estate.  This past month the real estate market in Portola Hills took a dramatic pause.   What do we mean by a pause? Looking at the number of homes sold and comparing to the previous year; sales were down dramatically.  The area had only 2 closed escrows in the month vs. 8 in 2015. The two homes that closed escrow were in the Bella Palermo  complex; both condo's.  The good news of course... prices were up.  Below is look at what homes closed escrow in October. Portola Hills Condo Home Value: Oct 2016 Median: 3 Bedroom/1156sqft. = $436k or $378 per square foot.   Oct 2015 Median: 2 Bedroom/1014sqft. = $345k or $337 per square foot. Great news for condo owners in Portola Hills, from this time last year home values were up 21% in October!    Overall in South Orange County the Condo/Townhome market is extremely strong.   Supply of available homes is extremely low and demand is very high.  What is the Value of my Port