According to Altos Research, Irvine’s single-family housing market is doing slightly better than the previous month. Altos gives Irvine’s single-family homes a Market Action Index of 23.18, which Altos defines as a buyer’s market. (Above 30 is defined as a seller’s market; below is defined as a buyer’s market.) Altos also states that the average single-family home in Irvine has been on the market for about 114 days as of November 9, 2012.
Altos Market Action Index for Single-family Homes in Irvine
Following is Irvine’s October 2012 housing market data provided by Redfin:
|Type||List Price/# Homes Listed||Sold Price/# Homes Sold||List Per SF||Sold Per SF||% Chg Y-O-Y Sold Price/SF|
· The October 2012 overall median selling price was up 19.9% from the previous year.
· The September 2012 overall median selling price was up 6% from the previous year.
· The August 2012 overall median selling price was down 0.6% from the previous year.
The following charts show Irvine’s inventory, median price per square foot of houses, and median price per square foot of condos, respectively.
If you would like to see the Irvine housing numbers broken down into the neighborhood stats, see my previous post “Irvine Housing by the Numbers – November 2012 Update.”