PORTOLA HILLS LIVING by Kelly Turbeville

Wondering how the Portola Hills real estate market has done so far in 2022.  Well, April was a record breaking month!  But are we at the height of the market?  We are certainly in a shifting market.  What is shifting?  Interest rates have increased to about 5% and projected to be be higher by years end.  Plus we have seen an increase of new listings, but we are still below "normal" levels.  As we enter the summer months (which is typically the slowest months in real estate) opportunities will improve for the home seller who is looking to move up or downsize.  As demand (buyers) are away and listings increase through May, this offers you the home seller the opportunity to sell at top of the market and buy with less competition.  We are starting to see more Seller concessions. Below is a look it how the Portola Hills real estate market performed in April. Search Available Portola Hills Homes As you can see from the above numbers, the community of Portola Hills had some record b

Are you wondering if you missed the height of the real estate market?  Are you hearing homes are not selling as fast and the number of offers has died down.  This is partially true, but it is not because the market is shifting to buyers market...  It is a seasonal shift.  Did you know July and August, typically are the slowest months of real estate in the OC.  Why, simply summer distractions!   For our monthly Portola Hills market recap, this month we looked at how the market performed the last 3 months, from July - September.  Take a peek at the numbers below:   As you can see in the above report, homeowners who decided to sell in the last 3 months received on average 103% to their list price.  Low Inventory and Interest Rates remaining below 3% is keeping the buyer demand high.  Homes priced right are still selling quickly for over asking price.  For our clients this year we are averaging about 112% of list price.   I would caution sellers to simply list their home over the last home