Showing posts with the label supply and demand

Will there be a Spring rush of Home Sales in Portola Hills? March 2013 Real Estate Snapshot

Shhhh....  It's quiet in Portola Hills and we are not just talking about the tranquil neighborhoods.  We are talking about the real estate market.  Typically March in the Saddleback Valley we see an uptick of homes coming on the market.  The inventory at the end of the 2013 was at an all time low, we saw about a 7% increase in inventory after the holidays. However, here in the Saddleback Valley and especially Portola Hills it was Quiet!! Reports indicate the market is heading back to 2006 levels  so looking at the number of homes that sold this time in 2006 (17) vs. what has sold this month (6), you can see it is pretty quiet.  Over the last few years the average number of homes sold in March is about 10. The good news here is for Home Sellers.  When the inventory is low and the buyer demand is high that means it's a sellers market.    The rule of supply and demand wins! Below is a summary of what sold in March in Portola Hills: March 2014 Portola Hills Sold Homes

Portola Hills 2011 Year End Market Recap

Wondering how real estate ended in 2011..... Here is a quick snapshot per square footage of how each housing segment ended the year.  We heard many times through the year that hottest market in Orange County was Portola Hills.  This is a direct result of supply and demand.   No supply, high demand and with just 54 listing sold in Portola Hills in 2011 that was evident.  In 2010 96 homes sold. Wondering how this relates to your home, give us a call and we would be happy to run the numbers for you. One thing is for certain.  Opportunity is knocking!!