Irvine Housing Overview: Condos and Houses—May 2014

Below are numbers provided by Redfin for Irvine’s May housing market. (Note: The June number will be available in a few days.) The numbers are broken down so that the statistics for condos and houses can be seen.

At our last look at these numbers, a lot more homes in all categories sold in April than was true earlier this year, and more homes were on the market in April than was true earlier this year. The May numbers show the number of homes on the market is continuing to rise; however, the number of homes sold has slowed down.

Also note that Altos Research states that the Market Action Index (MAI) for Irvine’s single-family housing market was 37.08 on June 27, 2014. According to Altos, above 30 indicates a sellers’ market, below 30 indicates a buyers’ market.

Following is Irvine’s 2014 housing market data as 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
14-May $1,060K/334 $895K/100 $444 $448 8.50%
14-Apr $1,096K/270 $900K/97 $447 $440 11.70%
14-Mar n/a n/a n/a n/a n/a
14-Feb $1,090K/203 $905K/57 $451 $420 10.50%
14-Jan $1,082K/170 $832K/62 $461 $429 22.20%
14-May $590K/332 $570K/125 $413 $402 5.20%
14-Apr $590K/310 $550K/125 $411 $394 4.50%
14-Mar n/a n/a n/a n/a n/a
14-Feb $599K/248 $560K/80 $406 $395 13.50%
14-Jan $603K/226 $626K/58 $406 $392 20.60%
14-May $788K/704 $722K/238 $422 $421 7.40%
14-Apr $778K/618 $678K/247 $425 $409 7.60%
14-Mar $799K/487 $680K/na $435 $407 n/a
14-Feb $745K/479 $665K/145 $421 $400 10.50%
14-Jan $412K/422 $688K/130 $422 $412 23.40%