Explore Properties at Southern California: Top Trends for Short Sales at Irvine, CA, Housing Market

Increased buyer pressure now at the Irvine, CA, housing market shows statistics for short sales and equity listings.

528 homes are now listed for sale at Irvine, CA (up from two weeks ago).
10 of those for sale homes are REO bank owned.
126 of the Irvine homes for sale are short listings (where owners have no equity and are asking lenders for debt forgiveness).
33 short sales have closed escrow during the past thirty days.
284 short sale listings are now in backup or pending (which is up from last month).

Current trends for short sales at Irvine housing market:

24% of all for sale listings are short, which is an increased share.
284 short sales now in backup and pending, which is also an increased share.
Average list price on short sales in pending and backup is $545k, which is up.
33 short sales closed in last 30 days, which is up.
Average sold price of those short sales was $597k, which is also up.

Irvine is the economic center of Orange County and continues to lead the way for recovery from the residential real estate slump, and we expect this to continue to solid buyer demand.

If you are interested to see list of short sales at Irvine, CA, housing market, contact us at ExploreProperties@gmail.com. Thanks.

________________

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.