This week the median list price for Irvine Single Family Residences, (not condos), is $1,498,888 with the market action index hovering around 34.
This is less than last month's market action index of 37. Inventory has held steady at or around 311.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales ersus inventory.
This "Slight Seller's Advantage" is for SFR homes in the whole of Irvine.
Interested in a market Report for your Village? Just head over to https://www.HomesForSaleinIrvineOC.com and click on a Village, (Irvine area), then on "Market Report".
The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in Market Action Index, we’re in the Seller’s zone.
Watch for changes in Market Action Index. If it resumes its climb, prices will likely follow suit.
If the Market Action Index drops, we'll be heading towards a Buyer’s Market.