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Irvine home sales picking up steam

June 29th, 2009, 5:00 am · 4 Comments · posted by Erika Chavez, Staff Writer

For the 22 business days ending June 4 – DataQuick’s freshest homebuying stats — these sales trends appear in Irvine ZIPs …

• Citywide sales totaled 230 – that’s +24% vs. a year ago. Countywide, sales were +19% vs. a year ago.

• Of Irvine’s 8 ZIP codes, 7 had sales gains vs. a year ago while 2 had a gain in their median selling price vs. a year ago.

• 5 of these 8 ZIP codes beat the -11.9% overall performance of the countywide median for the past year.

Here’s how the latest DataQuick report breaks down Irvine ZIPs; change is vs. a year ago:

ZIP Median price Yr. chg. Sales Yr. chg.
92602 $580,000 -1.4% 28 -9.7%
92603 $760,000 -8.4% 32 +14.3%
92604 $494,500 -17.6% 25 +25.0%
92606 $546,500 -14.3% 20 +25.0%
92612 $530,000 +4.7% 24 +14.3%
92614 $530,000 +6.3% 27 +28.6%
92618 $436,000 -12.1% 21 +162.5%
92620 $632,500 -1.9% 53 +29.3%
All OC $420,000 -11.9% 2,898 +18.7%

• For more on overall Orange County homebuying trends, CLICK HERE!

Related stories:

Median Irvine home price down 8.4 percent

Irvine “starter home” falls out of escrow

Puzzling home listing of the week

Can you make $ as an Irvine landlord?

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 4 Comments

  • Jules says:
    June 29, 2009 at 11:14 am

    The median prices still need to drop lower. For example, in the 92614 zip code, the average family income is $100,000. If home buyers use their calculcators while making home purchases, the median price should then be $250,00 to $300,000 maximum. So, these prices still need to come down and become more realistic.

    Home buyers, please reconsider these purchases. If you buy now, the value of your home will definitely drop further.

  • bulwark says:
    June 29, 2009 at 7:30 pm

    Irvine home sales picing up steam

    Hmmm… Could that be because price declines are picking up steam? No, must be because we’ve reached the bottom. Sure, buy now or be priced out forever…. sucker.

  • Wells says:
    June 30, 2009 at 7:52 am

    Irvine home sells after 900 days on the market.
    who’s the lair here. Does these mean that they sold 2 more homes. Give us a brake and stop insulting our intelligence. Everybody knows what’s going on. Be competent at your job and inform the truth ONLY.