As of 04/25/2023, the real estate market in Irvine, California is seeing continued growth and stability. Irvine is a highly sought-after location for home buyers due to its strong job market, excellent schools, and attractive neighborhoods.
According to recent data from Zillow, the median home value in Irvine is currently $1,080,000, which is a 5.3% increase from the previous year. The median list price per square foot is $501, which is also up from the previous year. These numbers indicate a strong seller's market, with high demand and limited inventory driving up prices.
The average days on market for homes in Irvine is currently around 35 days, which is slightly shorter than the national average. This indicates that homes are selling quickly, and buyers need to act fast to secure a property.
Additionally, the rental market in Irvine is also seeing growth, with the average rent for a one-bedroom apartment currently around $2,200 per month, and the average rent for a two-bedroom apartment around $3,000 per month. This reflects the high demand for rental properties in the area, particularly among young professionals and families.
Overall, the real estate market in Irvine is experiencing strong growth and stability, with high demand and limited inventory driving up prices. Home buyers and renters can expect to face competition in their search for a property, and may need to act quickly and be prepared to make competitive offers. If you are considering buying or renting a property in Irvine, it is important to work with an experienced real estate agent who can guide you through the process and help you make informed decisions.
