Is Portola Springs, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Portola Springs has remained a Seller's Market.
Key Takeaway
Portola Springs is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Portola Springs, CA
How much do homes in Portola Springs, CA cost?
Median Sold Price
$1,625,000
$786/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Portola Springs have sold for 29.9% more than they did a year ago.
Summary: The median home sold price in Portola Springs was $1,625,000 in April 2024, up 29.9% from last year, and the median price per square foot was $786.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $660K | - | N/A |
| 2 Bedrooms | $854.4K | $905K | +5.9% |
| 3 Bedrooms | $1.1M | $1.3M | +17.6% |
| 4 Bedrooms | $1.7M | $2.0M | +20.3% |
| 5+ Bedrooms | $3.0M | $3.5M | +17.4% |
Summary: Portola Springs housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 17.6%, 4 bedroom homes increased by 20.3%, and 5+ bedroom homes increased by 17.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Orchard Hills | $2.0M | $2.9M | +43.0% |
| Portola Springs | $1.2M | $1.6M | +29.9% |
| Stonegate | $1.5M | $1.7M | +12.5% |
| Orange County Great Park | $1.5M | $1.5M | +4.6% |
| Woodbury | $1.3M | $1.3M | +3.2% |
Housing Supply in Portola Springs, CA
How many homes are available in Portola Springs, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 38 | 39 | +2.6% |
Summary: The Portola Springs real estate market had 39 homes for sale in April 2024, a 2.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 13 | 9 | -30.8% |
| 4 Bedrooms | 21 | 27 | +28.6% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Portola Springs housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 30.8%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 13 | +30.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Portola Springs, you could pay more than the asking price. 83.3% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Portola Springs in April 2024, up by 30.0% month-over-month. Of the 12 sold homes, 0% were sold under asking, 17% were sold at asking, and 83% were sold over asking.
Days on Market for Portola Springs, CA
How long does it take to sell a home in Portola Springs, CA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 40 Days | 10 Days | -73.3% |
Summary: Homes in Portola Springs had an average of 10 days on market in Apr 2024, down by 73.3% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Portola Springs are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 13 homes were sold in Portola Springs; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.