Is Irvine, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$1,422,690
$767/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Irvine was $1,422,690 in April 2024, up 10.6% from last year, and the median price per square foot was $767.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $578K | $635K | +9.9% |
2 Bedrooms | $849.4K | $930K | +9.5% |
3 Bedrooms | $1.1M | $1.3M | +12.5% |
4 Bedrooms | $1.7M | $1.9M | +14.0% |
5+ Bedrooms | $2.6M | $3.1M | +18.3% |
Summary: Irvine housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.9%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 14%, and 5+ bedroom homes increased by 18.3%.
Median Sold Price Compared To Nearby Cities
Central Coast | $1.6M | $1.8M | +15.3% |
Irvine-Lake Forest | $1.2M | $1.3M | +13.7% |
Irvine | $1.2M | $1.4M | +10.6% |
Tustin | $963.7K | $1.0M | +9.5% |
Laguna Woods | $379.8K | $413.6K | +8.9% |
Housing Supply in Irvine, CA
How many homes are available in Irvine, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
516 | 537 | +4.1% |
Summary: The Irvine real estate market had 537 homes for sale in April 2024, a 4.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 19 | 26 | +36.8% |
2 Bedrooms | 101 | 101 | 0.0% |
3 Bedrooms | 175 | 170 | -2.9% |
4 Bedrooms | 162 | 180 | +11.1% |
5+ Bedrooms | 59 | 60 | +1.7% |
Summary: The Irvine housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 36.8%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 2.9%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 1.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
188 | 200 | +6.4% |
Asking Price vs. Sold Price
43 Homes Were Sold
Under Asking
37 Homes Were Sold
At Asking
119 Homes Were Sold
Over Asking
Summary: A total of 200 homes were sold or pending in Irvine in April 2024, up by 6.4% month-over-month. Of the 199 sold homes, 22% were sold under asking, 19% were sold at asking, and 60% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
29 Days | 16 Days | -45.4% |
Summary: Homes in Irvine had an average of 16 days on market in Apr 2024, down by 45.4% compared to last year.
Breakdown of Home Sale Times
175 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During April 2024, 200 homes were sold in Irvine; 88% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.