According to Altos Research, the Market Action Index (MAI) for Irvine’s single-family housing market was 38.30 on April 4, 2014. This means that the Irvine MAI moved up just a tick from where it was about this time last month. As defined by Altos, this puts the Irvine single-family housing market in the seller’s market category. (Above 30 is defined as a seller’s market; below is defined as a buyer’s market.) Altos also states that the average single-family home in Irvine has been on the market for about 105 days as of April 4th.
Overview of Irvine Real Estate Trends Provided by Redfin (redfin.com)*
- Median List Price: $800K
- Median Sale Price: $690K
- Median Sale $/Sq Ft: $408
- Median Sale / List: 98.5%
- Average Number of Offers 3.1
- Average Down Payment: 24.4%
- Number of Homes Sold: 503
*These figures include the house and condo numbers combined and are calculated over the ninety days prior to April 20, 2014.
Read more here: Irvine Housing Blog