Irvine Housing Market Update – Sales Numbers Reduced During August at South Orange County, CA

Irvine housing market at South OC had 12% fewer homes sold in August, 2010, as compared with sales in August, 2009.

Irvine had 169 homes sold in August 2010, including 119 standard equity sales, 18 bank owned REOs, and 32 short sales.

This compared with 192 Irvine homes sold during August 2009.

Short sales closed during August 2009 was about same as August 2010.

Home Sold Prices at Irvine remain strong.

During August 2009, the average Irvine sold price was $680,818.  During August 2010, the average sold price was $654,309, which was a decrease from prior year of 3.8%. 

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See IRVINE'S SINGLE FAMILY HOMES NOW FOR SALE - click here for free active link.

Irvine now has 863 homes listed for sale, which is about right for this time of year.

• 463 of those Irvine homes listed were condos, and 400 of those were single family detached.
• 192 of those listed were short sales.
• 34 of those listed homes were banked owned REO.
• 23 of those listed were in foreclosure and default on loans.
• 614 of those listed were equity sales.

See IRVINE'S CONDO HOMES NOW FOR SALE - click here for free active link.

MARKET TIME – Irvine has 863 homes now listed for sale, and 169 were sold in August 2010.  So it would theoretically take about 5 months to sell all Irvine homes now on the market.  Therefore, Irvine is a balanced housing market at this time not favoring buyers or sellers.  

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Posted via email from Explore OC Homes