Irvine CA Home Selling Market Update – September 9, 2014

Irvine CA is the economy engine driver at Orange County – has a population of about 230,000 people and still growing.

Irvine continues to enjoy high expectations and confidence of its home buyers.

People are especially attracted to Irvine, because of its positive local economy and jobs, famous and award-winning schools, that it is one of the safest cities in America, and some of the best weather anywhere.

More homes are sold and money spent to buy Irvine real estate as compared with any other city in the OC.

740 Irvine homes are now listed for sale – as of September 9, 2014 – according to CRMLS multiple listing service.

Average price at Irvine for a home now for sale is more than $1.1 million.

172 Irvine sellers got buyers for homes under contract and went into escrow during the past 30 days – and average list price for those homes was $880,156.

So the average list price of an Irvine home going into escrow ($880,156) is almost twenty percent lower than average for sale listing price of all Irvine homes ($1.1 million).

What this shows is that some Irvine home owners who listed their homes were unrealistic about price and need to look more carefully at fair market value – what other homes in the neighborhoods have actually sold for.

208 Irvine homes sold with closed deals during the past 30 days. Average sold price for those sold homes was $805,980 – and average time on market was 62 days.

Average time it would theoretically take to sell all homes now listed for sale (740) at current pace of home selling (172 per month) is more than 4 months.

This average time to sell Irvine homes has increased this year and especially during the past 90 days.

Irvine home selling market still favors sellers. However, this is trending toward balance recently with increased number of listings and sales moderating.

Buyers have more negotiating power and better choices now as compared with earlier this year and during 2013.

We here to help you evaluate the market in your area and price your home to sell.

Coldwell Banker residential brokerage

By Harrison K. Long. Source of some information is CRMLS multiple listing service and Reports On Housing and is for homes listed and sold by all brokers and agents.

Professional REALTOR® agent representation and help for property owners, home sellers, 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.

Contact us at 949-854-7747 with your questions about home prices and values at Irvine and other Orange County CA cities and areas.

About Harrison K. Long

Professional real estate representative, Realtor agent, GRI, Broker associate, Evergreen Realty HomeSmart, Orange County, California - CALBRE #01410855 - Serving 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 - Orange County Association of REALTORs, member and prior service on its board of directors for 2012; California Association of Realtors, member and now serving on its board of directors - Also an attorney member of the California State Bar Association #69137 - Contact by telephone or text at 949-701-2515
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