Friday, August 6, 2010

Irvine CA Housing Market Update for July, 2010 - For Sale Listing Numbers Were Up

Irvine housing market update

The Irvine, California, housing market had 821 homes were listed for sale at the end of July, 2010.  That's up from the 720 listed as of the end of June and lots more than any time during the past six months. 

155 of those listed were short sales (18.9% of market), and 33 were bank owned after foreclosure (4% of market).

Irvine homes sold July 2010 

165 Irvine homes were sold during July, 2010.

13 of those sold were bank owned REO(7.8% of solds).

37 of those sold were short sales (22.4%) of solds.

198 Irvine homes were sold in June 2010, so July numbers are down. 

395 Irvine homes were in pending and backup status on the MLS at the end of July 2010.  pending sales at Irvine215 of those pending and in backup were short sales (55% of pending and backup were short listings). 

Market time for sale of Irvine homes

When comparing number of Irvine homes sold (165) during July with the number of those listed for sale at end of month (821), we find that 20 percent of homes on market were sold in this one month.  So at that rate of sale, it would theoretically take five months to sell all Irvine homes now on the market. 

What we learned

Irvine, CA, housing market is a bit softer these days.  The number of Irvine homes listed for sale in July was up, and number of homes sold was down from prior months.  Market time for sale at Irvine homes is longer (about 5 months), showing more balance, not favoring buyers or sellers.
Source of information: SoCal Multiple Listing Service


Harrison K. Long
REALTOR and broker associate, Explore Group Properties, Coldwell Banker Previews
949-854-7747 - CA DRE 01410855 - - - - - - - -  -   

Posted via email from Explore OC Homes


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