$10,000 Closing Credit*
$1,625,000
2,031 SqFt
3 Beds
•3 Full Baths, 1 Partial
James Lin, Listing Office: HomeSmart, Evergreen Realty
Is Irvine, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Irvine has remained a Seller's Market.
Key Takeaway
Irvine is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Irvine, CA
How much do homes in Irvine, CA cost?
Median Sold Price
$1,595,478
$833/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$245,880(+18.2%)
Key Takeaway
Homes in Irvine have sold for 18.2% more than they did a year ago.
Summary: The median home sold price in Irvine was $1,595,478 in November 2024, up 18.2% from last year, and the median price per square foot was $833.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $599.9K | $670K | +11.7% |
| 2 Bedrooms | $886.3K | $1.0M | +13.9% |
| 3 Bedrooms | $1.2M | $1.4M | +16.7% |
| 4 Bedrooms | $1.8M | $2.1M | +17.7% |
| 5+ Bedrooms | $2.8M | $3.2M | +13.3% |
Summary: Irvine housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.7%, 2 bedroom homes increased by 13.9%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 17.7%, and 5+ bedroom homes increased by 13.3%.
Median Sold Price Compared To Nearby Cities
| Irvine | $1.3M | $1.5M | +18.2% |
| Irvine-Lake Forest | $1.2M | $1.5M | +17.2% |
| Tustin | $1.0M | $1.1M | +10.5% |
| Laguna Woods | $389.7K | $424.1K | +8.8% |
| Central Coast | $1.7M | $1.9M | +8.2% |
Housing Supply in Irvine, CA
How many homes are available in Irvine, CA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 665 | 610 | -8.3% |
Summary: The Irvine real estate market had 610 homes for sale in November 2024, a 8.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 28 | 34 | +21.4% |
| 2 Bedrooms | 125 | 117 | -6.4% |
| 3 Bedrooms | 231 | 201 | -13.0% |
| 4 Bedrooms | 206 | 190 | -7.8% |
| 5+ Bedrooms | 75 | 68 | -9.3% |
Summary: The Irvine housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 21.4%, 2 bedroom homes decreased by 6.4%, 3 bedroom homes decreased by 13%, 4 bedroom homes decreased by 7.8%, and 5+ bedroom homes decreased by 9.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 166 | 155 | -6.6% |
Asking Price vs. Sold Price
77 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
53 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Irvine, you may be able to get a good deal. 49.7% of homes here sold below asking price last month.
Summary: A total of 155 homes were sold or pending in Irvine in November 2024, down by 6.6% month-over-month. Of the 155 sold homes, 50% were sold under asking, 16% were sold at asking, and 34% were sold over asking.
Days on Market for Irvine, CA
How long does it take to sell a home in Irvine, CA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 18 Days | 36 Days | +91.7% |
Summary: Homes in Irvine had an average of 36 days on market in Nov 2024, up by 91.7% compared to last year.
Breakdown of Home Sale Times
96 Homes Were Sold
Under 30 Days
43 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Irvine are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 155 homes were sold in Irvine; 62% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.