Showing posts with the label Portola Hills Median Price

Portola Hills Mid-Year Real Estate Snapshot

It always amazes me how fast the years go by and 2016 is no exception.  We are mid-year, so it is always a good time to take a look at how the overall real estate market has performed in Portola Hills thus far. The info-graphic below highlights the 2016 Portola Hills real estate market is certainly on an upswing thus far in the year. Looking at the above figures the low sales volume certainly is a driving force in the increase in pricing.  Inventory remains to be a key issue throughout South Orange County.   In July we typically see a turn in the market from the spring strides.  It's summer after all people are distracted.  The demand has been very good this year thus why we see such an increase in pricing.  We are also beginning to see a slight increase in the inventory and the expected market time is on the rise. Though Portola Hills Average Days on the Market is averaging about 40 overall in the county that has increased to about 79.  Leading us to a more balanc

Portola Hills April Home Values

It's May, yes May and the Portola Hills real estate market is moving along at quick pace.  April in general is a quiet month for real estate and this can be seen with only 4 homes closing escrow in April.   However, we did see an increase in the number of new listings that came on the market.  Currently there are 8 active properties on the market. Below is a our monthly snapshot info-graphic for Portola Hills.   Overall inventory levels in South Orange County are extremely low.   We did have a jump in new listings in April, but they are selling quicker than new homes coming on the market.  The average days on the market in April was 11.   Buyer demand is very high, especially for the condo market and homes priced under the median price of $700,000.  If you are thinking of a move, now is a great time to take advantage of the low inventory and get top dollar for your home.   Let's grab a cup of

Portola Hills Real Estate Sales 1st Quarter 2016

I don't know if you are as shocked as I am that we have officially closed the 1st Quarter of 2016.   We are just about mid-month into April and many have taxes on their mind.  Is a move this next year beneficial for tax savings? The first quarter of the year typically is a bit quieter up until tax time. Then we tend to see the spring surge in inventory come on the market.  Will that be the case for the rest of spring... The market certainly needs more inventory so I hope so Homeowners who chose to sell their Portola Hills home in this last quarter saw significant price gains.   Below is a look at the entire area along with the gains split out for attached and detached homes. Portola Hills 2016 Real Estate Sales Jan-March Portola Hills 2015 Real Estate Sales Jan-March Comparing 2016 vs 2015 the number of sales was down slightly with 23 sold in 2015 and 21 sold in 2016.   The median sales price in Portola Hills is up about 15% from 2015.  The lowest price

July 2015 Portola Hills saw 35% increase in pricing!!

This past July was a busy one for the Portola Hills real estate market.   Home sales were up 20% and hold on tight the median price for homes sold was up 35%. .  Plus in the last week of July, 6 homes opened escrow!! So why the craziness, you might Ask!  A couple of things!! Inventory is very low with all of Orange County only at 1.5 months! Buyer demand is extremely high and buyers want in before projected  interest rates increase later this year!  It's Portola Hills.. The community is sought after for not only its location, the schools are good, views are spectacular, etc. However,  the big difference here is the mix of homes that sold! This year more higher-end larger homes took advantage of their equity position and decided to sale!! Take a look at the mix of homes that closed escrow this year vs. last. July Portola Hills Real Estate Sales It will be interesting to see if this trend continues!! My crystal ball might be fuzzy.. But I would project with t