Irvine Ca Real Estate Market Needs More Homes to Sell.
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.
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.
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.
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”