As of March 15, 2012, Irvine had 538 homes listed for sale on the MLS multiple listing service system.
Irvine then had 261 new deals opened in the past 30 days. According to Thomas, Irvine had “market time” – months it would take to sell all inventory at that pace of new escrows – of 2.06 months vs. 3.44 months seen one year earlier.
121 of the Irvine CA homes listed were either foreclosures being resold or short sales, where sellers owe more than the home’s value – so distressed properties were 22.5% of supply of homes for sale.
Irvine homes for sale made up about 7.7 percent of all Orange County CA number of homes for sale.
373 Irvine homes have resold so far this year 2012 – with average sold price of $639,157 – average market time of 104 days.
Irvine now has 509 homes listed for resale – much fewer than last year – average asking price of $994,686. Irvine has qualified buyers who need more homes listed and some of sellers to get realistic about their asking prices.
Source of information is ReportsOnHousing.com, OCRegister.com and CRMLS, and this includes homes listed and sold by all brokers and agents.
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