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

Housing Market Conditions



Gauge showing Irvine is a seller's market


Difference Since February 2023

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.

Housing Prices in Irvine, CA

How much do homes in Irvine, CA cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since February 2023


Key Takeaway

Homes in Irvine have sold for 6.2% more than they did a year ago.

Summary: The median home sold price in Irvine was $1,380,171 in February 2024, up 6.2% from last year, and the median price per square foot was $741.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $576.5K$615.8K
2 $860K$900.4K
3 $1.2M$1.2M
4 $1.6M$1.8M
5+ $2.6M$3.1M

Summary: Irvine housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.8%, 2 bedroom homes increased by 4.7%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 11%, and 5+ bedroom homes increased by 19.7%.

Median Sold Price Compared To Nearby Cities

Central Coast
Irvine-Lake Forest
Laguna Woods

Housing Supply in Irvine, CA

How many homes are available in Irvine, CA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE

Summary: The Irvine real estate market had 415 homes for sale in February 2024, a 8.1% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 1716
2 8782
3 127135
4 110128
5+ 4354

Summary: The Irvine housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 5.9%, 2 bedroom homes decreased by 5.7%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 16.4%, and 5+ bedroom homes increased by 25.6%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE

Asking Price vs. Sold Price

41 Homes Were Sold
Under Asking

21 Homes Were Sold
At Asking

75 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Irvine, you could pay more than the asking price. 54.7% of homes here sold above asking price last month.

Summary: A total of 137 homes were sold or pending in Irvine in February 2024, up by 19.1% month-over-month. Of the 137 sold homes, 30% were sold under asking, 15% were sold at asking, and 55% 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

Feb 2023Feb 2024CHANGE
33 Days22 Days-33.3%

Summary: Homes in Irvine had an average of 22 days on market in Feb 2024, down by 33.3% compared to last year.

Breakdown of Home Sale Times

109 Homes Were Sold
Under 30 Days

19 Homes Were Sold
In 30 - 90 Days

9 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.

Summary: During February 2024, 137 homes were sold in Irvine; 80% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.

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

Report Updated 4 Days Ago

Newest Listings in Irvine, CA

Nearby Markets to Irvine, CA

What housing markets are near Irvine, CA?