Irvine CA Real Estate - Resale Market Gets Faster

 

Irvine CA real estate - home resale market - got faster by 40 percent in a year - according to Steven Thomas at www.ReportsOnHousing.com.  

As of March 15, 2012, Irvine had 538 homes listed for sale on the MLS multiple listing service system. 

Irvine then had 261 new deals opened in the past 30 days.  According to Thomas, Irvine had "market time" - months it would take to sell all inventory at that pace of new escrows - of 2.06 months vs. 3.44 months seen one year earlier.  

121 of the Irvine CA homes listed were either foreclosures being resold or short sales, where sellers owe more than the home's value - so distressed properties were 22.5% of supply of homes for sale. 

Irvine homes for sale made up about 7.7 percent of all Orange County CA number of homes for sale.

373 Irvine homes have resold so far this year 2012 - with average sold price of $639,157 - average market time of 104 days. 

Northpark Irvine - single family homes listed 

Northwood Irvine - single family homes

Northwood Irvine home - $998,800 list - 4 bedrooms and 3 baths - 2400 sf interior - MLS# S692013 - IDX link        

 

Portola Springs - homes listed

Quail Hill Irvine - single family homes

Turtle Ridge Irvine - single family homes

Turtle Rock - single family homes 

University Park - single family homes  

 Woodbridge Irvine - single family homes listed  

Woodbridge Irvine home - $939,900 asking price - 4 bedrooms and 3 baths - 2366 sf interior -  

MLS# S691809 - IDX link       

Irvine now has 509 homes listed for resale - much fewer than last year - average asking price of $994,686.  Irvine has qualified buyers who need more homes listed and some of sellers to get realistic about their asking prices. 

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Source of information is ReportsOnHousing.com, OCRegister.com and CRMLS, and this includes homes listed and sold by all brokers and agents.   

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