Is Irvine, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Irvine is a seller's market

Buyer's
Market

Difference Since October 2021

Since last year, Irvine has remained a Seller's Market.

Key Takeaway

Irvine is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Irvine, CA cost?

Median Sold Price

$1,278,821

$678/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$291,105(+29.5%)

Key Takeaway

Homes in Irvine have sold for 29.5% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $460K$565K
+22.8%
2 $690K$835K
+21.0%
3 $915K$1.1M
+29.3%
4 $1.3M$1.6M
+26.8%
5+ $2.1M$2.6M
+24.8%

Median Sold Price Compared To Nearby Cities

Irvine
+29.5%
Irvine-Lake Forest
+26.2%
Tustin
+22.1%
Laguna Woods
+17.8%
Central Coast
+16.9%

How many homes are available in Irvine, CA?

Number of Homes For Sale

Sep 2022Oct 2022%
591558-5.6%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 2021
+5.0%
2 10898
-9.3%
3 200193
-3.5%
4 181167
-7.7%
5+ 8279
-3.7%

Number of Homes Sold

Sep 2022Oct 2022%
176152-13.6%

Asking Price vs. Sold Price

99 Homes Were Sold
Under Asking

14 Homes Were Sold
At Asking

39 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Irvine, you may be able to get a good deal. 65.1% of homes here sold below asking price last month.

Average Sale Time

Oct 2021Oct 2022%
14 Days34 Days+147.2%

Breakdown of Home Sale Times

81 Homes Were Sold
Under 30 Days

66 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Irvine are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Irvine, CA

Number of homes for sale in Irvine, CA real estate market have reached 558. The inventory of homes for sale in Irvine, CA between September 2022 and October 2022 decreased by 5.6%. Listings spent 34 days on the market in October 2022, and had a median list price of $1,278,821 during the same period. From September 2022 through October 2022, the following changes in listing prices were observed in this housing market: 1 bedroom properties prices increased by 22.8%, prices of 2 bedrooms properties went up by 21%, the cost of 3 bedrooms properties went up by 29.3%, prices of 4 bedrooms properties increased by 26.8%, 5 bedrooms properties prices increased by 24.8%. Housing inventory have changed in this real estate market: 1 bedroom homes became 5% more available, the quantity of 2 bedrooms homes went down by 9.3%, number of 3 bedrooms homes decreased by 3.5%, the quantity of 4 bedrooms homes went down by 7.7%, number of 5 bedrooms homes decreased by 3.7%. In October 2022, from all listings sold in Irvine, CA there were more than 39 sold above asking price, over 99 sold below and more than 14 were sold right at the asked price.

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