Irvine Real Estate Inventory Update.
Posted by Sam Smith on Monday, January 6th, 2014 at 1:42pm.
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City of Irvine is one of the biggest cities in Orange County. There is usually a good deal of Irvine real estate for sale and lease. Right now there are currently 372 homes for sale in Irvine. Out of the homes for sale there are 155 single family residences, and 217 condos/townhomes. Out of the 372 homes for sale 348 of them are standard/equity sales. That means that standard/equity sales are making up 93% of the market and only 7% of the market in Irvine is considered a distressed sale. The distressed real estate market includes both foreclosures and short sales. This is a big shift in the market from what we've seen the last few years. Since last year (2013) the amount of equity has gone up significantly (about 20%) giving many more home owners an option to sell their home and make a profit.
Do you have any questions about the real estate market in Irvine? Give me a call!