Irvine CA Real Estate Update - February 2012

Irvine is the economy powerhouse at Orange County CA and has more jobs for employees than any other city of it size (with more than 200,000 people) in Southern California.

Irvine has 572 homes now listed for resale with average listing price of $953,253.

• 121 of those listed are short sales, and 31 of those listed are REOs. So 26.5 percent of current listings are distressed properties.

Realtors and brokers resold 2,201 Irvine homes last year during 2011 - with average sold price of $638,742.

• 443 of those sold homes last year were short sales (20 percent of market)
• 218 of those sold homes were REO lender owned after foreclosures (10 percent of market).

132 Irvine homes were resold last month during January 2012 - with average sold price of $622,470.

Since there are 572 Irvine homes now listed for resale and 132 sold during January, it would theoretically take 2.3 months to sell all homes now listed at this rate. Balanced would be about 4.5 month, so this Irvine market favors the sellers.

Northwood at Irvine homes now listed - click here for active lin.

Northpark at Irvine homes now listed - click here.

Quail Hill at Irvine homes now listed - click here.

Portola Springs at Irvine homes now listed - click here.

Shady Canyon at Irvine homes now listed - click here.

Westpark at Irvine homes now listed - click here

Woodbridge at Irvine homes now listed - click here.

Turtle Rock at Irvine homes now listed - click here.

University Park at Irvine homes now listed - click here

Woodbury at Irvine homes now listed - click here.

Irvine airport area homes now listed - click here.

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Source of some information is CRMLS, does not include FSBOs, trustee auctions sales or new homes, and does include those sold by all brokers and agents.

Harrison K. Long – REALTOR® and broker associate, GRI – Coldwell Banker Residential Brokerage – 949-854-7747 (phone) – ExploreProperties@gmail.com (email) – CA DRE 01410855 – SFR short sale and foreclosure resource certified by the National Association of REALTORs® – now serving as an appointed director at California Association of REALTORs® – attorney member of the California State Bar Association #69137