Monday, April 26, 2010

Irvine is a Powerhouse & Continues to Lead Orange County Economy & Housing Market Recovery

Irvine, CA, Leads the Way at Orange County for Housing Market Recovery.
  • 187 Irvine homes sold during past thirty days.
  • Average sold price was $684,836
  • $12,809,500 were total dollars spent for purchase of Irvine homes to past 30 days.

What kind of Irvine homes are selling?

  • 40 of the sold Irvine homes were short sales (22% of the market solds).
  • 148 of the 187 homes sold were under $750k.
  • 79% of homes sold were under $750k.
  • 90 of the sold Irvine homes were detached SFR.
What about current for sale listings? 
  • 609 Irvine homes are now listed for sale (slowly increasing number as compared with 30 days ago).

What about homes now under contract? 

  • 525 Irvine homes are now in pending contract and backup position on MLS (huge and increased number, which shows short market time).
Market time? 
  • Comparing this number of pendings (525) to those now listed for sale (609), the shows the market doesn't have enough homes to show and sell.  
  • Comparing number of Irvine solds past 30 days (187) to number current for sale (609), we believe that it would take about 3.1 month to sell all Irvine homes at current rate of sale.

Irvine continues to lead the way for OC Housing market recovery.

________________

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

Always hire an experienced local REALTOR® to help you with your decisions and sale or purchase of a home and property.

 
 
 

Posted via email from Explore OC Homes

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