Buying of existing Irvine homes heated up as pricing firmed in August.
Here are highlights of ReportsOnHousing house-hunting data for resales of existing detached and attached residences in the community.
This analysis includes August trends based on closed sales: sale counts; average price vs. average list price; high and low price paid in the month; average cost per square foot and average size; plus, based on broker listing networks stats on Sept. 7, the “market time” metric comparing supply of listings to new escrows opened in past 30 days.
In Irvine …
Sales: 297 sold vs. 281 a year ago, up 6 percent.
Average sales price: $950,003 that ranked No. 12 out of 46 Orange County markets tracked and was up 6.8 percent in a year.
Compared to list: Sellers got 98.1 percent of what they typically asked for, ranking No. 32 of the 46 markets.
Range: High sale of $5,818,000 vs. the $325,000 low.
Sizing: On average, buyers paid $468 per square foot on a 2,028 square-foot residence. This pricing metric was up 3.9 percent in a year.
Market speed: 67 days, listing to escrow opened vs. 90 days a year ago and 85 days two years ago.
Compare those patterns to countywide trends …
Sales: 3,110 sold vs. 3,069 a year ago, up 1 percent.
Average sales price: $831,964 — up 5.8 percent in a year.
Compared to list: Sellers got 98.1 percent of what they asked for.
Range: High sale of $21 million vs. $58,500 low.
Sizing: $447 per square foot (on a 1,863 square-foot residence), up 5.6 percent in a year.
Market speed: 64 days vs. 78 a year ago and 80 two years ago.
CHECK OUT Jon Lansner’s daily economic-trend-to-watch at http://facebook.com/econopuppy
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![Did you know that Irvine Ranch topped the national sales charts for new homes among master-planned community in the first half? The RCLCO consultancy says Irvine Ranch sales for 2017’s first six months totaled 1,088 vs. 989 a year ago, or a 10 percent jump. Next in this ranking from Orange County was … (Photo by Tomoya Shimura, Orange County Register/SCNG)]()
Did you know that Irvine Ranch topped the national sales charts for new homes among master-planned community in the first half? The RCLCO consultancy says Irvine Ranch sales for 2017’s first six months totaled 1,088 vs. 989 a year ago, or a 10 percent jump. Next in this ranking from Orange County was … (Photo by Tomoya Shimura, Orange County Register/SCNG)
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![Great Park Neighborhoods, the project on the old military base in Irvine, came in at No. 8 in RCLCO national rankings with 466 new-home sales vs. 270 a year ago, or a 73 percent jump. What nearby community was three spots below in the national Top 20? (File photo)]()
Great Park Neighborhoods, the project on the old military base in Irvine, came in at No. 8 in RCLCO national rankings with 466 new-home sales vs. 270 a year ago, or a 73 percent jump. What nearby community was three spots below in the national Top 20? (File photo)
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![Rancho Mission Viejo! It was No. 11 with 340 home sold in the first half vs. 242 a year ago, or a 40 percent jump. What community made it four from Orange County in RCLCO’s top dozen? (Photo: JEFF GRITCHEN, STAFF PHOTOGRAPHER)]()
Rancho Mission Viejo! It was No. 11 with 340 home sold in the first half vs. 242 a year ago, or a 40 percent jump. What community made it four from Orange County in RCLCO’s top dozen? (Photo: JEFF GRITCHEN, STAFF PHOTOGRAPHER)
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![Baker Ranch in Lake Forest came in at No. 12 with 318 homes sold vs. 228 a year ago, or a 39 percent jump. (Photo by Nick Agro, Orange County Register/SCNG)]()
Baker Ranch in Lake Forest came in at No. 12 with 318 homes sold vs. 228 a year ago, or a 39 percent jump. (Photo by Nick Agro, Orange County Register/SCNG)
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