Saturday, March 27, 2010

Irvine Housing Market Update - Continuing Positive Rebound Toward Recovery

Irvine, California, housing market update shows continuing positive rebound leading toward recovery. 
Homes sales volume at Irvine continues to increase at 7 of the 8 Irvine zip code areas for 22 business days ending March 0, 2010.
  • 534 Irvine homes are now active and listed for sale.
  • 177 Irvine homes were sold during the past thirty days.
  • 515 Irvine homes are in pending to be sold status with signed purchase contracts.
  • 128 of the Irvine homes now for sale are short listings (24.9% of market).
Market time for Irvine homes now for sale would be average expected time it will take to sell all 515 homes now listed for sale. 
When compared to the 177 Irvine homes sold the past thirty days, expected market time is 2.9 months, which is a short time and now favors sellers.
Because there are so few Irvine homes now for sale (534) relative to buyer demand (177 sold past thirty days and 515 now under pending contract), the local housing market here trend definitely favors the sellers.

Harrison K. Long, Realtor & broker, Explore Group, Coldwell Banker Previews, Irvine, CA.  CA DRE #01410855.  Lawyer - California State Bar member #69137.  National Association of Realtors, California Association of Realtors, and Orange County Association of Realtors.  Current Chairperson of Local Government Relations south committee at  Newport Beach and Irvine area Realtor, broker agent and property information source. 

Posted via email from Explore OC Homes


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