Irvine CA Home Prices Up with Sales Market Moderating
Irvine CA home sales last year at this time (March 14, 2013) were at high prices and market lightening fast.
Irvine didn’t have enough inventory of homes for sale last year to satisfy buyer demand. Irvine had 190 homes listed for sale on the MLS. 238 Irvine homes went into “backup” or “pending” status during the past 30 days. So more Irvine homes were being sold each month as compared with number listed on the market for sale.
- 426 Irvine homes were sold during first 73 days of 2013
- $711,278 was average sold price
- 66 days was average market time
- It was taking 30 days to sell all homes then listed on the market.
Irvine home selling market 2014 has moderated, with listing prices up, selling prices up, and longer time from listing to sale.
- 318 Irvine homes were sold during first 73 days of this year 2014.
- 25 percent fewer homes were resold during this time as compared with last year 2013.
- $778,756 average sold price
- 69 days average market time
- 477 Irvine homes are now listed for sale (which is more than double the number for sale last year during 2013).
- Buyers have more options than they did last year.
- Average list price at Irvine is now more than $1.2 million.
So Irvine CA Home Prices are Up with Sales Market Moderating. Some Irvine home sellers are priced too high, and those will will need to be reduced before sellers get their buyers.
By Harrison K. Long. Source of some information is CRMLS and is for homes listed and sold by all brokers and agents.
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Irvine CA Home Prices are Up with Sales Market Moderating