subject: Irvine Real Estate Market Comparison Report (february 2009 Vs. February 2010) [print this page] We analyze several housing market indicators in order to present an in-depth breakdown of Irvine Real Estate Market comparing February 2009 to February 2010.
Summary of Key Points
Irvine Real Estate has started showing signs of improvement with median sales price climbing up while at the same time houses are selling faster
Key Statistics, Irvine, CA: Median Sales Price (-15.54%), Median Days on Market (6.01%), and Number of Units Sold (60.00%), Sales Price to List Price Ratio (Feb 09 92% - Feb 10 82%).Median Prices are lower than last year and sellers received less than what they were asking for.
Irvine Real Estate
The city of Irvine experienced a 15.54% decrease in median sales price from last year going down from $1,021,650 (Feb. 09) to $862,875 (Feb. 2010). Median days on market data for Irvine shows that houses are selling slower than Feb 09. It took 65 days in Feb 09 for a house to sell and for Feb 10 that number has gone up to 68 days (a 6.01% deterioration). Another important factor to consider is total number of units sold. In the month of Feb 09, 40 units were sold compared to 64 for Feb 10 (60.00% change). Lastly we are going to take a look at the Sales Price to List Price Ratio for Irvine. SP/LP ratio for Feb 09 was 92% compared to 82% for Feb 10.
Lets take a brief look at neighbors Laguna Beach and Santa Ana. Laguna Beach Real Estate featured a 180.64% increase in median sales price ($936,858 Feb 09 - $2,629,235 Feb 10) and Santa Ana Real Estate saw a 10.71% increase ($311,400 Feb 09 - $344,746 Feb 10). Are houses in Laguna Beach and Santa Ana selling faster or slower this year? Well, Laguna Beach experienced a 60.10% increase (99 to 159 days) in median days on market and Santa Ana saw a 110.50% increase (27 to 56 days). In the units sold category, Laguna Beach sold 11 units more (183.33%) in Feb 2010 than 09 and Santa Ana sold 47 units less (-34.81%) in Feb 2010 than Feb 09.
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