Although the real estate market in Irvine, CA. has slowed down substantially from last year, market values continue to hold. In April of this year we reported that there were 330 detached homes listed for sale in Irvine, with a Median price of $999,900 and an average days on market of 40 days. Today, there are 543 detached homes listed for sale with a median price of $940,000.
The lowest priced detached home for sale is a 2 bedroom, 2 bath, 950 Square foot patio home on Orchard street and is priced at $499,098. The most expensive home currently for sale in Irvine is a 8 bedroom, 13 bath, 16,800 Square Foot estate priced at $17,900,000 on Needlet Grass street in the Shady Canyon tract of Turtle Ridge.
There are 92 homes currently under contract (Pending in escrow) in Irvine. The median price of these Pending homes is $839,000. The lowest price home In Escrow is a 2 bedroom, 1 bath, 900 square foot patio home on Tangerine street. The most expensive home in escrow currently in Irvine, is a 5 bedroom, 5.5 bath, 5,699 square foot estate priced at $3,465,000 on Starview street, in the La Cima tract of Turtle Ridge.
For the past 90 days in 2006', there were 261 detached homes that sold and closed escrow in Irvine. The median price for these sold homes was $875,000 and the average price was $954,989. The average price per square foot was $426/SqFt and the average days on market was 50 days. Comparing this to our our report in April of this year, the median price for the first 3 months of this year was $812,400 and average price per square foot was $442/SqFt. This illustrates that home sales prices have held steady for this year and essentially have not dropped.
For attached condominium in Irvine, there are currently 607 Condos listed for sale and the Median price is $649,900. The lowest priced Condominium is 1 bedroom, 1 bath, 475 Square Feet for $249,900 in the Irvine Springs tract on Streamwood street. The most expensive condo is a 3 bedroom, 3.5 bath, 4,290 Square Foot Condo with Bay View located in the Plaza Irvine high rise on Scholarship street, and is priced at $3,775,500, that is scheduled for completion in 2007'
Today, there are 98 Condos Pending in escrow in Irvine. The median price for the Pending Condos is $550,000. The least expensive condominium sold in escrow is 1 bath studio with 475 square feet in the Irvine Springs tract on Streamwood street. The most expensive condo in escrow currently in Irvine, is a Penthouse condo with 3 bedrooms, 3.5 baths, 2,520 square feet located in the Plaza Irvine high rise on Scholarship street for $2,562,500 and is scheduled to be completed in 2007'.
For the past 90 days, there were 268 Condos that sold and closed escrow in Irvine. The median priced Condo was $576,500. The lowest priced condo that sold and closed escrow during this time period was a 1 bedroom, 1 bath, 475 square foot condo in the Irvine Springs tract on Streamwood. The highest priced condominium sold in Irvine in the past 90 days was a 3 bedroom, 3.5 bath, 2,930 square foot townhome with panoramic views and 3 car garage in Turtle Ridge.
To view all Homes and Condos for sale in Irvine, visit our website at: Irvine Real Estate
