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 21.61, 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 121 days as of August 10, 2012.
Altos Market Action Index for Single-family Homes in Irvine
According to Redfin, 226 houses were on the Irvine market in June, and 181 condos were on the market. Following is more data from Redfin on Irvine’s July 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-Jul | $949K/226 | $760K/95 | $382 | $368 | 7.90% |
| 12-Jun | $890K/251 | $735K/103 | $384 | $356 | 5% |
| Condos | |||||
| 12-Jul | $509K/181 | $425K/115 | $342 | $306 | -1.60% |
| 12-Jun | $498K/202 | $430K/152 | $336 | $313 | -1.30% |
| All | |||||
| 12-Jul | $744K/408 | $545K/211 | $363 | $322 | 0.30% |
| 12-Jun | $720K/456 | $515K/257 | $363 | $327 | 0.9%* |
*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.
There are fewer houses and condos on the market this month than last month, as well as fewer sales. In addition, houses seem to be faring better than condos in Irvine’s housing market.
If you would like to see some housing numbers for each of Irvine’s neighborhoods, see my previous post “Irvine Housing by the Numbers – August 2012 Update.”
Discuss below or on Talk Irvine.