Thu Jan 21 2021
This week the median list price for Irvine, CA is $1,750,000 with the market action index hovering around 46. This is about the same as last month's market action index of 46. Inventory has held steady at or around 193.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$1,750,000|
|Per Square Foot||$548|
|Days on Market||95|
|Strong Seller's Market|
While this week the median didn’t fluctuate much, we are relatively close to the market’s price high-point. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$4,044,000||5,351||0.25 - 0.5 acre||5||6||12||8||1||141|
|$2,193,400||4,052||6,500 - 8,000 sqft||5||5||9||10||6||102|
|$1,567,495||3,033||4,500 - 6,500 sqft||4||4||7||14||6||78|
|$1,059,990||2,297||0 - 4,500 sqft||3||3||22||12||11||59|