According to Altos Research, Irvine’s single-family housing market is similar to what it was the previous month. Altos gives Irvine’s single-family homes a Market Action Index of 22.03, 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 has been on the market for about 115 days as of September 14, 2012.
Altos Market Action Index for Single-family Homes in Irvine
According to Redfin, 221 houses were on the Irvine market in June, and 168 condos were on the market. Following is more data from Redfin on Irvine’s August 2012 housing market:
| Type | List Price/# Homes Listed | Sold Price/# Homes Sold | List Per SF | Sold Per SF | % Chg Y-O-Y Sold Price/SF |
| Houses | |||||
| 12-Aug | $960K/221 | $710K/125 | $380 | $345 | -0.30% |
| 12-Jul | $949K/226 | $760K/95 | $382 | $368 | 7.90% |
| 12-Jun | $890K/251 | $735K/103 | $384 | $356 | 5% |
| Condos | ` | ||||
| 12-Aug | $525K/168 | $427K/141 | $338 | $306 | 0% |
| 12-Jul | $509K/181 | $425K/115 | $342 | $306 | -1.60% |
| 12-Jun | $498K/202 | $430K/152 | $336 | $313 | -1.30% |
| All | |||||
| 12-Aug | $736K/390 | $536K*/267 | $362 | $328 | 3.50% |
| 12-Jul | $744K/408 | $545K/211 | $363 | $322 | 0.30% |
| 12-Jun | $720K/456 | $515K/257 | $363 | $327 | 0.9%** |
*The August 2012 median selling price was down 0.6% from August 2011.
**The May price per square foot was down 4.6%.
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 some housing numbers for each of Irvine’s neighborhoods, see my previous post “Irvine Housing by the Numbers – September 2012 Update.”
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