Irvine CA is the economy engine driver at Orange County – has a population of about 230,000 people and is still growing. Irvine homeowners have high expectations and confidence of the buyers.
People are especially attracted to Irvine, because of its positive 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.
584 Irvine homes are now listed for sale – as of November 1 – with average list price of $1,131,851.
That’s a 21 percent drop in number of homes listed for sale since September 1, when 740 Irvine homes were listed for sale.
181 Irvine sellers got buyers for homes under contract and went into escrow during the past 30 days – Average list price for those homes was $839,645. So the average list price of an Irvine home going into escrow is about 25 percent lower than average for sale listing price of all Irvine homes.
210 Irvine homes sold with closed deals during October 2014 – with average sold price at $902,560 – and average time on market for those homes was 72 days.
Irvine home sellers who are serious need to look more carefully at “fair market value” – the amount that other homes in the neighborhoods have actually sold for.
Irvine home selling markets are more balanced now – with little or no advantage to either buyers or sellers.
Buyers have more negotiating power and better choices now as compared with earlier this year and during 2013.
More homes are sold and money spent to buy Irvine real estate as compared with any other city in the OC.