Monday Market Update for the week of 3-21-2011 – Irvine Real Estate – Irvine Homes for Sale – How’s the Market?

by Robert Mack on March 22, 2011

in Buyers, How's The Market, Sellers

Curious about the real estate market in Irvine, Orange County?  Check out this short video and see how many homes are available for sale, how many have sold, what types of sales to expect, average sales prices, and so much more…..every Monday – right here!  Scroll down to view written statistics for the week of 3/21/2011.


Total Number of Homes available in Irvine Orange County – 794 (up 16 from last week)

–          Ranging from: studio unit priced at $125,000 up to 9 bed/11 bath home priced at $18,950,000

Total Number of attached units available – 430 (up 7 from last week)

–          Ranging from: studio unit priced at $125,000 up to 4 bed/5 bath home, 3,250 s/f priced at $2,195,000

Total Number of detached homes available – 360 (up 10 from last week)

–          Ranging from: 2 bed/1 bath home priced at $349,000 up to 9 bed/11 bath, 15002 s/f priced at $18,950,000

Total Number of available short sales in Irvine – 195 homes | 25% of market share

Total Number of Standard re-sales in Irvine – 542 homes | 68.3% of market share

Total Number of REO/bank owned foreclosures in Irvine – 46 homes | 5.8% of market share

–          Ranging from: studio unit priced at $125,000 up to 4 bed/5 bath, 3,739 s/f priced at $1,484,900

New Listings in Irvine – listed in the last 7 days – 64 New Listings (down 8 from last week)

Total Number of Homes taken off the Market (did not sell) – 35 Homes

–          19 Cancelled Listings

–          6 Withdrawn Listings

–          10 Expired Listings

Total Number of Pending/Backup Offer Homes – 424 Homes

–          245 Backup offer status

–          179 Pending in Escrow

Total Number of Homes sold and closed escrow – from 3/13/2011 – 3/20/2011 – 58 Homes (double the number from last week!)

–          Average Days on the Market – 101

Average sold price vs current list price – 97%

Average sold price vs original list price – 95%

Average sold price per square foot – $353.35

To request more fine tuned statistical information for specific communities in Irvine or types of Homes, please email and provide search criteria.  Results will be sent within 24-48 hours.  Tune in for next week Luxury Monday Market Update for Irvine!

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