Historically August is a quiet month in the real estate market, people are finishing up vacations and getting kids ready for school, etc. In Portola Hills however this wasn't the case when it comes to the number of homes that sold, as we saw a 37% increase in the number of closed escrows over August of 2014.
In 2014 5 homes closed escrow in 2015 8 homes closed escrow... Below is a breakdown of what homes sold in both years.
As you will note this last month, 8 homes successfully closed escrow with average price point of approximately $503,000.
In 2014, 5 homes closed escrow, with an average price point of $490,000.
Comparing the two years in regards to pricing we saw a 9% increase in the sales prices. Still outpacing Orange County as a whole, but down from the double digit price increase we saw in June and July.
With the last quarter, anticipated homes sales, can slow down. In South Orange County we see this some, but not to the degree as some other areas. The one thing we do see is the number of new listings coming on the real estate market will be less, which will put added pressure on the current inventory.
If you are considering listing your home Portola Hills home, fall is great time to take advantage of the market. Inventory will decrease, buyer demand is still high and with low rates, this September looks pretty enticing to still get top dollar for your home!
Give Kelly a call to review the current market and how it is best to position your home to receive a best possible offer!
Did you know Kelly Turbeville is already working for you... Check out some of our recent post on Portola Hills that include an informal Portola Hills video tours of the neighborhood. We hope you like our creative approach to getting information out to about the Portola Hills community to home buyers. We get great feedback and interest from our home buyers.... so if you are looking for a creative approach to getting your home sold, give us a call.