Irvine Short Sale Realtor market update

Irvine Short Sale Experts

This report is for standard sales and short sales in Irvine . This article is brought to you by the realtor experts at the Short Sales ASAP group, who are #1 in short sale property listings and closings in Orange County. Currently, there are a total of 207 detached homes listed for sale in Irvine , California. The median price of these active homes for sale is $975,000 and the average price per square foot is $461 . Of this total, 22 are short sale listings active for sale. . These short sale listings represent 11% of the total inventory of detached homes for sale. The median price of these short sale properties is $715,000 and the average price per square foot is $378 .

For attached condominiums, there are 246 condo units currently listed for sale in Irvine . The median price for these listed condominiums is $519,999 and the average price per square foot is $379 . Of this total, 85 are short sale condo listings. The median price of these short sale condos is $398,900 , and the average price per square foot is $321 . The ratio of short sale condo listings to listings is 35% .

Currently, there are 174 detached homes under contract in escrow, and the median price of these pending properties is $775,000 . Of this total pending properties, 74 are short sales, which is 43% of the total detached properties in escrow in Irvine . The median price is $769,000 .

For condominiums, there are now 268 attached units in escrow, and the median price is $410,000 . Of this number, 170 are short sales in escrow in Irvine. These short sale condos are 63% of the total units in escrow, and the median price is $390,000 .

In the past 90 days, there have been a total of 153 detached homes that have sold and closed escrow in Irvine . The median price of these sold homes was $760,000 and the average price per square foot was $376 . Of this total were 19 short sale properties, which was 12% of the total sales. The median price was $777,500 , and the average price per square foot was $355 .

For attached condos, there have been a total of 219 condominium sales in the past 3 months. The median price was $428,000 , and the average price per square foot was $325 in Irvine . In addition, there were 66 short sale condos that sold and closed escrow dueing this same period of time, which was 30% of the total number of units sold. The median price of the sold short sale condos was $395,000 , and the average price per square foot was $309 .

As can be seen above, the ratio of Pending in Escrow short sale listings, to Pending total listings is a much higher percentage, compared to the ratio of Sold short sale properties to Sold total properties. This illustrates that short sales fail at a high rate. Property owners who owe more than their home is worth, should seek to work with an experienced Irvine short sale realtor. For more information, feel free to call: (888) 201-7066, or email us at: Info@ShortSalesASAP.com.