Property Values and Homes in Irvine California
Whether you are buying or selling in Irvine California helps to know what the current property values and median home prices are so that you don’t overpay and that you price your home correctly.
This real estate market report is for the first part of July, 2014.
The median list price is currently at $788,000. This is roughly similar to where it was just a month ago but is up 6% over last year at $742,000. The median sales price of $740,000, up nearly 9% over last year. The average list price however, is $1,134,000 according to Trulia.com.
The median house size is also up 5% over last year at nearly 1900 ft.². The median days on the market, however, is also up 62% at 39 days. A year ago at this time it was only 24. The median price per square foot is currently at $424, which is 1% higher than it was last year at $418 per square foot.
Single-family homes and condominiums offer slightly different numbers. There are currently nearly 400 condominiums or town homes on the market and there are 334 single-family residences on the market. Condominiums are on the market about 36 days, up 57% over last year and the median list price is roughly the same at $599,000. The median condominium size is about the same as last year at 1500 ft.². The median price per square foot is $411.
Related Post: Why is it so important to know your home’s value?
Overall, the Irvine California real estate market has had an immensely great year since last July. October, November and even January are some of the highest month on record over the last 10 years. June and July have also proved to nearly beat the record at over $800,000 for a median list price. [Source][Source]
If you’re considering buying or selling in the Irvine California area it helps to know how long homes sit on the market so that you can make an informed decision on your purchase and sale offer. If you’re selling, it gives you good idea how to price your home in order to get it sold within a month or two.
If you’re ready to sell, contact our office for free in-house listing presentation of what your Irvine California home is currently worth. Or you are ready to buy? Start your online search here through all our communities