PORTOLA HILLS LIVING by Kelly Turbeville

 I just took a look at the market stats for the first month of 2024 and WOW, homes values increased double digits in January.   Take a look at my full report below!  Do you see that percentage home values increase in the first month of the year!  21%!! The average price of a single family home in January 2023 was $1,286,539 vs. today at $1,629,858.    In January 24 the highest price home sold for $1,939,000 and the lowest price home was $599,000. Right now there are 7 active homes available in Portola Hills.   If you are considering a move, make sure to check out my video on the Truth of when is the best time to list your home!     Don't hesitate to reach out to me direct to review how we can help you achieve top dollar for your Portola Hills home!  Check out my full video market recap below!  If you are considering buying a home in Portola Hills, make sure to get a copy of our Portola Hills Home Buying Guide!   It is filled with valuable information about the Portola Hills communi

HAPPY NEW YEAR!  Can you believe it, we are officially in 2024!  I personally can not believe how fast 2023 went.  The real estate market in 2023 in Portola Hills was very strong!  It actually outpaced the overall Orange County real estate market.   Below is our year end report that summarizes how the community performed, along with a spotlight on 3 popular neighborhoods.   Does it shock you the average price of Single Family home in Portola Hills is $1.6 million dollars and an Attached home, Condo/Townhome is $785,000.  Home prices from 2022 to 2023 increased 15% in Portola Hills.   We are starting 2024 off with very low inventory, there are only 3 homes available at the time we wrote this report.  My phone began ringing from potential Buyers when rates went below 7%, so I anticipate the early spring market is going to get a little crazy as rates hit closer to 5%.  What is the Value of my Portola Hills Home? If you are considering a move, let's chat about your goals and how I can

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

The summer heat has hit Portola Hills and that is impacting the real estate market in a couple of ways.  First the Portola Hills community continues to remain strong.  Pricing remains high, with the average price of a Single Family Home in Portola Hills is $2,013,000 in June.  The price for an attached home was $671,500.  Sellers slightly received over their list price.  Below is our full report! Portola Hills Available Homes Currently there are only 1.5 months of inventory available, which continues to drive pricing.  Especially in Portola Hills as the majority of homes available currently are New Builds in The Oaks or IronRidge.   As with the overall OC real estate market, Sellers are staying put, as they do not see a need to make a move and are loving their low interest rates.  Home buyer demand is there and buyers are getting use to the higher interest rates but affordability is starting to impact purchases.  Thus why we see less homes selling currently.  Sales volume is down 32% i

If you are thinking about a move, downsizing, relocating and have been searching for a home, you are probably thinking "where are all the homes for sale" isn't this time of year that we would see them? The answer to the later is yes!  May is typically the busiest month in real estate.  However with over 80% of homeowners refinancing to the low rates over the last couple of years, homeowners are in no hurry to make a move into a higher rate.  Is this you?   But life happens and buyer demand is pretty strong in most price points.  One reason... is the equity position homeowners have.  Just released over 67% of homeowners homes are either paid off or they have less than 50% remaining on their mortgage.  That means there is a ton of equity in the market!  In addition, buyers have come to terms with interest rates.  They understand they can refinance later. As we do anticipate home prices to sky rocket due to this inventory issue not being resolved and rates will come down. He

 Wondering how the real estate market did the second month of 2023?  Check out our monthly real estate snapshot on what properties sold in Portola Hills along with current homes available and coming soon!  Did you check out those values!  I admit, even though I am in the real estate business these prices do surprise me sometimes.  The average price of a home in Portola Hills was $1,536,000 in February, that is up from $923,597 in 2022.  Of course, mix of homes plays a roll in this.   Overall in Orange County, home prices are being pushed up by low inventory.  Low inventory is good news for sellers, but with higher prices and higher interest rates, buyers are a bit nervous.  Sellers need to be careful in navigating today’s housing market. Homes priced according to their Fair Market Value and decent condition will procure plenty of activity and, in many cases, obtain multiple offers. But homes in poor shape with plenty of deferred maintenance, houses with an inferior location, and overp

What a crazy year... the 2022 real estate market in Portola Hills started out insanely!  About mid-year, we started to see a shift in the market. Right before rates increased to 7%.  The market slowed, homes began to stay on the market longer but the average days on the market for the year was 23 days.  Homes that came on the market after July, sold but traffic and offers was certainly less, requiring sellers to be a bit more flexible with buyers. Comparing 2021 to 2022, there was 13% increase in value.   Sales Volume was down from 2021 with only 145 homes selling vs. 2021 where we had 184 closed sales, that equals a 22% decline in Sales. Portola Hills Homeowners equity position remains very strong in the New Year.  What is the Value of My Portola Hills Home Below is an overall summary for the community.   2023 is also starting off very strong.  Buyer's who missed out are still looking.  I had 11 people through my open house last weekend and we have several qualified buyers, search

 So have you heard the 22 real estate market is starting off with a bang!  Overall in Orange County we have the lowest inventory on record.  Currently there are about 1200 homes available for extremely high demand throughout the OC.  In Portola Hills, we have about a half a month of inventory available.  So what does this mean... In order for us to have a more balanced market for buyers and sellers, we would need to have about 6000 homes available.  For the market to turn to a buyers market we would need about 8000 homes.  As you can see with the current inventory of under 1200, listings are needed, which is an amazing opportunity for sellers.  Especially if you are looking to make a move up, because right now interest rates are still low and we know they are projected to increase throughout the year. RIGHT NOW, provides the opportunity to sell high and save $$ on your purchase! Below is a look at how the Portola Hills real estate market performed!  Enter our Valentine's Giveaway C

  We took a look at the current real estate market and we only have 1 wish for Santa this Christmas... More Listings please!!  Overall, in the OC inventory is at record lows.  We are entering unprecedented levels when it comes to the number of homes on the market and available to buyers.    So we anticipate the market to remain strong in 2022, but there are a couple of factors that you should be aware of... but first let's look at how the Portola Hills real estate market performed last month.  As you can see in the above report the Portola Hills real estate market is extremely strong.  Currently there are only 6 Active Listings and 27 properties under contract.  That means we have less than half a month of inventory for prospective buyers.  With the majority of those homes, being new homes in IronRidge and Portola Oaks. The 3 hottest neighborhoods that sold in November were: Montecido at an average price of $590,000 Serenado at an average price of $885,667 IronRidge at an average p

Can you believe it, we are in October!!  I can't, once we hit October, for me, the year moves by so fast with all the holiday activity.  We are in the last quarter of 2020 and what a year it has been so far.    The good news, is even during this crazy time with a Pandemic going on the Portola Hills real estate market is very strong.  Below is a look at how the market performed last month.  There were even some records broken last month.  In the Montecido community Model C the Galante, sold for a record price of $615,000. That is amazing for this 3 Bedroom, 1200+ sqft home!  Now is an excellent time for those living in a Condo or Townhome to move up to that larger home you have been thinking about as buyer demand for your home is extremely high!  What's the Value of my Portola Hills Home? If you are thinking of a move, don't hesitate to reach out to me Kelly Turbeville for a quick review of what is happening in your neighborhood.  Don't forget to enter our Portola Hills