Irvine Market Reports for July 2019

Irvine Market Overview

Median Home Sale Prices for both properties in Irvine, California to decrease over the past year. In terms of relative balance between buyer and seller interests, residential real estate markets across the country are performing well within an economic expansion that will become the longest in U.S. history in July. The Fed has received pressure from the White House to cut rates in order to spur further economic activity, and the possibility of a rate reduction in 2019 is definitely in play following a string of increases over the last several years.

Median Sales Price

• The Median Sales Price of Single Family Homes in Irvine is $1,198,000. Irvine home values have declined -3.1% over the past year.   

• The Median Sales Price of Townhouse-Condo in Irvine is $688,000. Irvine home values have declined -5.4%over the past year.

Market Health

There were 376 new listings and 253 Closed Sales for both properties in Irvine, CA