Irvine, California ~ with some of the best residential neighborhoods at Orange County, located near Newport Beach, Laguna Beach, Newport Coast, and within a 10 minute drive of the Pacific Ocean at Crystal Cove. 

Famous for pleasant weather, Irvine has lots of sunshine, award winning public schools, healthy business climate with good job opportunities, the University of California Irvine, wonderful parks and recreation areas, encouragement for business and development, diverse backgrounds of residents, many locations for recreation and fitness, places for freedom of worship, and is one of the safest cities in the United States.

 LOCAL HOUSING MARKET REPORT   

600 Irvine homes are now for sale on the market, with 164 homes sold the last thirty days, and 406 homes in pending status.

The large number of pendings (406) vs. active for sale (600) shows that market saturation ~ expected time on market before sale ~ is very low.

Comparing number of homes listed vs. sold this past month, market saturation if 3.6 months.

And comparing  number of homes listed vs. sold last 30 days plus pending and in escrow, market saturation drops to less than 40 days.

At current rate of sale of 165 homes during past 30 days (1980 homes per year), Irvine sells 5.42 homes every day. 

Of the 600 Irvine homes now for sale, 439 are regular equity listings, with 145 short listings and 16 REO listings.

(Number of REO listings is down).

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What this means is ~

• Buyers and investors have been busy snapping up bargains. 
• We need more homes for sale at Irvine to satisfy needs of the buyers. 
• There are still good Irvine buyer opportunities. 
• Irvine trend appears to be in favor of possible sellers market.

If you want to buy or sell a home at Irvine, California, please contact us. Thanks.

Information Source:  Southern California Multiple Listing Service.

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Harrison K. Long, Explore Group, Coldwell Banker Previews, Irvine, CA.