Local Market Reports for January 2020
Median Home Sale Prices for both Single Family and Townhouse-Condo properties in Irvine, California decreased for last 12 months. For 2020, The National Association of REALTORS® Chief Economist Lawrence Yun sees good news for home prices. “National median home price growth is in no danger of falling due to inventory shortages and will rise by 4%,” the long-term NAR economist predicts. We start off the year with continued low interest rates, low unemployment, and rising rents nationally. These factors should encourage healthy buyer demand and sets us up for a strong start to the 2020 housing market and a lot of optimism for the coming spring market.
Median Sales Price
- The Median Sales Price of Single Family Homes in Irvine is $1,185,000. Irvine home values have decreased -3.3% over the past year.
- The Median Sales Price of Townhouse-Condo in Irvine is $730,000. Irvine home values have decreased -0.5%over the past year.
There were 282 new listings and 200 Closed Sales for both properties in Irvine, CA