Irvine CA Real Estate Market Update – March 2012

Irvine views from Turtle Rock

Irvine CA home selling market continues to be solid with buyer demand.

Irvine, CA

The average Irvine home for sale list price has now topped $1,000,000 (which is well above the average resold price).

Irvine has 531 homes now listed for resale with average asking price of $1,002,604.


95 of those Irvine homes listed are short sales  –  27 of those listed are REOs  –  So 23 percent of current Irvine listings are distressed properties. 

Realtors and brokers resold 2,201 Irvine homes last year during 2011 – average of 183 sold per month – with average sold price of $638,742.

  • 443 of those sold homes last year were short sales (20 percent of market)
  • 218 of those sold homes were REO lender owned after foreclosures (10 percent of market).

121 Irvine homes were resold last month during February 2012

  • Average resold price for these Irvine homes during February was $565,107.
  • Average market time for these resales during February 2012 was 116 days. 

Market time

Since there are 5310 Irvine homes now listed for resale and 121 sold during January, it would theoretically take 4.3 months to sell all homes now listed at this rate.  Irvine home resale market is balanced – not favoring buyers or sellers.

Irvine airport area homes now listed – click here.

Northwood at Irvine homes now listed – click here for active link.

Northpark at Irvine homes now listed – click here.

Portola Springs at Irvine homes now listed – click here.

Quail Hill at Irvine homes now listed – click here. 

Shady Canyon at Irvine homes now listed – click here. 

Turtle Ridge at Irvine homes now listed – click here  

Turtle Rock at Irvine homes now listed – click here.  

University Park at Irvine homes now listed – click here  

Westpark at Irvine homes now listed – click here  

Woodbridge at Irvine homes now listed – click here.  

Woodbury at Irvine homes now listed – click here.

Buyer demand is solid for Irvine homes – Irvine remains the economy powerhouse at Orange County CA – with more jobs for employees than any other city of it size (more than 200,000 people) in Southern California.

Irvine CA real estate

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Source of some information is CRMLS, does not include FSBOs, trustee auctions sales or new homes, and does include homes listed and sold by all brokers and agents.

Contact us about listing and sale of Irvine and Orange County CA homes and real estate. ~ Professional REALTOR® agent representation and help for property owners, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.

 

Posted via email from Explore OC Homes

About Harrison K. Long

Businessman, Professional Realtor agent, GRI, Broker associate, Coldwell Banker Residential Brokerage - Orange County, California - CA DRE 01410855 - Helping property owners, estate trustees, executors and administrators, fiduciaries, bankers, investor group managers, with listing and sale of properties - helping people with their best decisions about homes and real estate - Member at the Orange County Association of REALTORs (serving on its board of directors for 2012); California Association of Realtors (serving on its board of directors for 2011-2102); National Association of Realtors - Also an attorney member of the California State Bar Association #69137 - Contact by telephone or text at 949-701-2515
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