Under Contracts Heat up a Chilly Month! Irvine Real Estate | Irvine Homes & Condos for Sale

by Robert Mack on December 12, 2010

in Latest News

Temperatures are cold outside; however, there has been a dramatic (48%) increase in the number of properties placed under contract in November 2010 when compared with November 2009. Check out the OBX real estate statistics below:

 

November 2010 Bright Spots

· Under Contracts:

1.   All Listings – Up 48% from November 2009.

2.   Residential Listings – Up 43% from November 2009.

3.   Land Listings – Up 75% from November 2009.

· Total Sales – Up 11.6% from November 2009.

· Condo Sales – Up 150% from November 2009

· Inventory:

1.   Residential Listings – Down 13% from November 2009.

2.   Land Listings – Down 21% from November 2009.

3.   The inventory of homes for sale at the end of November was 1,984 units, reflecting a 15% decline in inventory from the same time last year (2,373 units)

Residential Property Sales – The number of single family home sales remained the same as November 2009; however the median price was up slightly (3%). The number of condominium sales has increased dramatically (150%); however, the median price for condominiums declined by 25%.

Great article on how activity and sales are up this month compared to the same time last year! Check out the stats above!

Posted on Irvine Orange County Real Estate Market News

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