Explore Properties at Southern California: Irvine Home Sales are Positive for the Orange County Economy Moving Forward

Irvine real estate

Irvine is the primary driver for the economy engine at Orange County, California, and is one of the most sought-after cities for home buyers in Southern California.

438 Irvine homes were resold by real estate professionals during the first quarter 2011. Irvine sold homes first quarter 2011
Average sold price for those was $640,901.

58 of those Irvine sold homes were REOs (13.2% of market).

91 of those sold were short sales (20.7% of market)

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Irvine now has 798 homes listed for resale with average asking price of $897,657. 181 of the Irvine homes now listed are short sales (22.6% of market).

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Irvine homes sold 1st quarter 2010

Irvine market resold 454 homes during the the first quarter 2010.

Average price sold during that time was $653,822.

34 of those resold were REOs (7.4% of market).

107 of those Irvine sold were short sales (23.5% of market)

What we see from this is that the Irvine home sales market this year during first quarter 2011 is very similar in sales pace and price numbers as compared with the same pace from last year.

Irvine continues to lead the economy and housing market recovery at Orange County.

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This is for resale home information from SoCal Multiple Listing Service data and does not include FSBOs, those sold at auction after foreclosure and new home sales.

Harrison K. Long - solutions for real estate and business - REALTOR® and broker associate, GRI - Coldwell Banker Residential Brokerage - 949-854-7747 (phone) - ExploreProperties@gmail.com (email) - CA DRE 01410855 - SFR short sale and foreclosure resource certified by the National Association of REALTORs® - also now serving as director at California Association of REALTORs®.