Good News for Irvine CA Home Sellers that Market Needs More Homes to Sell

Shady Canyon Irvine

Irvine Ca Real Estate Market Needs More Homes to Sell.

Irvine’s home selling market has favored sellers for the past 8 years, and that will continue because of ongoing trend of not enough homes for sale.

Fewer Irvine homeowners have chosen to sell for these years despite massive price appreciation and excellent conditions for home selling.

Irvine simply doesn’t have homeowners electing to sell their homes and make a move during this time – so the story continues to be lack of supply.

Biggest challenge for buyers in this Irvine CA real estate market is that there simply aren’t enough homes on the market.

Turtle Rock Village Irvine

Since 2012, Irvine homeowners have experienced relentless price and value appreciation, which resulted in a record high median sales price.

Irvine CA has already started its prime home selling season – after unofficial kickoff during Super Bowl Sunday on February 2017.

But Irvine now has only 395 homes listed for sale, which is not enough to satisfy buyer market demand during Feb. and March 2017.

276 Irvine homes are now “active with buyer purchase contracts” or “pending” in escrow at this time.

So 45 days is average market time for Irvine to theoretically to sell all homes now on the market at current pace of home selling.

  • 154 Irvine homes were sold during January 2017.
  • $897,757 was average Irvine home sold price.
  • 65 days was average time on market from list to sold of those Irvine homes.
  • 1,971 SF was average interior size of Irvine sold homes in January.
  • 395 Irvine homes are now listed for sale

Such low number of Irvine homes now for sale will be insufficient to satisfy market buyer demand during the next 60 days.  Realtor agents hope to see more Irvine homes listed for sale during this time.

Irvine continues to be the economy powerhouse with booming economy and jobs and is top home selling city at Orange County CA.

Irvine has population of about 250,000 people – has a growing economy with more jobs than residents who are now over the age of 18.

Connect with us here about Irvine home selling – and to learn about what your home is worth in today’s market.

By Harrison K. Long – REALTOR® and professional real estate representative.  Real estate broker – CALBRE #01410855.  Honored as “Orange County REALTOR® of the Year 2016” by the Orange County Association of REALTORs®.  Focusing on best customer service real estate experience for our clients.

Source of information is CRMLS multiple listing service and ReportsOnhousing.com and is for homes represented by all brokers and agents.

Contact us by cell or text at 949-701-2515 for Irvine home selling information and strategy.  Thanks.

“Good news for Irvine Home Sellers that Market Needs More Homes to Sell”

About Harrison K. Long

Honored as "REALTOR® of the Year 2016" by the Orange County Associations of REALTORs®. Professional real estate representative, Realtor, GRI, Broker associate, Evergreen Realty HomeSmart, Irvine and Orange County, CA - CALBRE 01410855 - Helping property owners, estate trustees, executors, administrators, fiduciaries, bankers, investor group managers, with listing and sale of properties. California Association of Realtors (now serving on its board of directors); National Association of Realtors. Attorney member of the California State Bar Association #69137 - Contact by cell or text at 949-701-2515.
This entry was posted in Irvine CA, Irvine home buying, Irvine home sales, Irvine home values, Irvine homes, Irvine listings, Irvine live, Irvine real estate, Irvine schools, Irvine view homes and tagged , , , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply