Irvine Housing Market Update - Continuing to Lead the Way at Orange County for Market Demand and Recovery

Irvine, CA, Housing Market update - March 10, 2010

 

We continue to see lots of buyer activity at Irvine, purchase offers being made and closed sales.  Multiple offers are being presented for homes under $700k where there is substantial buyer demand.

 

530 Irvine homes are listed for sale on the market as of today.

 

12 of those homes are REO lender owned after foreclosure (just 2.2% of market).

 

124 of the homes for sale are short listings where owners have no equity (astounding high 23.3% of market). 

 

158 Irvine homes have sold during the past 30 days (29.8 percent of market sold in one month.

 

113 of the Irvine sold homes were at $700k and under (71.5% of market).

 

Average market time for all Irvine homes now for sale is 3.2 months.

 

507 Irvine homes are now in pending sale position and/or in escrow (a very high number).  This probably reflects the many short listings that are in the pipeline for lender approval.

 

250 of Irvine listed homes for sale are detached, with the others attached and condos.

 

Irvine continues to lead the way at Orange County for housing market recovery trends.

 

 

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Harrison K. Long, Realtor & broker, Explore Group, Coldwell Banker Previews, Irvine, CA.  CA DRE #01410855.  ExploreProperties@gmail.com.  Lawyer member of the California State Bar Association - State Bar number 69137.  Member of National Association of Realtors, California Association of Realtors, and Orange County Association of Realtors.  Now serving as Chairperson of Local Government Relations south committee at OCAR.

Posted via email from Explore OC Homes