Is Irvine, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Irvine has remained a Seller's Market.
Housing Prices in Irvine, CA
How much do homes in Irvine, CA cost?
Median Sold Price
$1,502,366
$793/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Irvine was $1,502,366 in June 2024, up 15.6% from last year, and the median price per square foot was $793.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $576.9K | $637.5K | +10.5% |
2 Bedrooms | $853.5K | $950.5K | +11.4% |
3 Bedrooms | $1.1M | $1.3M | +15.2% |
4 Bedrooms | $1.7M | $2.0M | +16.6% |
5+ Bedrooms | $2.7M | $3.1M | +14.7% |
Summary: Irvine housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.5%, 2 bedroom homes increased by 11.4%, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 16.6%, and 5+ bedroom homes increased by 14.7%.
Median Sold Price Compared To Nearby Cities
Irvine-Lake Forest | $1.2M | $1.4M | +17.2% |
Central Coast | $1.6M | $1.8M | +16.0% |
Irvine | $1.2M | $1.5M | +15.6% |
Tustin | $972.5K | $1.0M | +10.5% |
Laguna Woods | $381.8K | $415.7K | +8.9% |
Housing Supply in Irvine, CA
How many homes are available in Irvine, CA?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
613 | 613 | 0.0% |
Summary: The Irvine real estate market had 613 homes for sale in June 2024, the same as May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 27 | 26 | -3.7% |
2 Bedrooms | 96 | 107 | +11.5% |
3 Bedrooms | 198 | 205 | +3.5% |
4 Bedrooms | 222 | 199 | -10.4% |
5+ Bedrooms | 70 | 76 | +8.6% |
Summary: The Irvine housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 3.7%, 2 bedroom homes increased by 11.5%, 3 bedroom homes increased by 3.5%, 4 bedroom homes decreased by 10.4%, and 5+ bedroom homes increased by 8.6%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
213 | 184 | -13.6% |
Asking Price vs. Sold Price
44 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
122 Homes Were Sold
Over Asking
Summary: A total of 184 homes were sold or pending in Irvine in June 2024, down by 13.6% month-over-month. Of the 184 sold homes, 24% were sold under asking, 10% were sold at asking, and 66% were sold over asking.
Days on Market for Irvine, CA
How long does it take to sell a home in Irvine, CA?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
20 Days | 16 Days | -20.3% |
Summary: Homes in Irvine had an average of 16 days on market in Jun 2024, down by 20.3% compared to last year.
Breakdown of Home Sale Times
157 Homes Were Sold
Under 30 Days
24 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During June 2024, 184 homes were sold in Irvine; 85% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.