Today we will take a look at Irvine’s University neighborhood. First, a quick observation: Like many of Irvine’s neighborhoods, University Park’s price per square foot selling price shows no consistent pattern of increase or decrease when compare to the same month last year.
Now, the numbers: University Park—September 2012:
| Area | List Price/# of Homes Listed | Sold Price/ #Homes Sold | Median List/SF | Median Sold/SF | % Chg Y-O-Y Sold Price/SF |
| Houses | $675K/9 | $620K/9 | $324 | $313 | -8.70% |
| Condos | $575K/2 | $515K/1 | $336 | $355 | 9.6% |
| All University Park | $660K/11 | $594K/10 | $324 | $323 | -5% |
| All Irvine | $750K/381 | $530K/210 | $365 | $323 | 1.90% |
The following graphs show the change in the number of University Park homes on the market (inventory), the price per square foot of University Park houses, and the price per square foot of University Park condos, respectively.
To give more meaning to these numbers and graphs, I am listing some homes that are near the bottom, top, and middle of the price range for homes in the University Park real estate market.
Note: A quick scan of the University Park listings shows that many of these homes are “sale pending.”
- Single-family built in 1968
- Beds/Baths: 3/2 (1,495 sf)
- HOA Dues: $123/month
- Mello Roos Tax: No
- Price: $454,900/$304 per square foot
- Single-family built in 2008
- Beds/Baths:5/4 (3,850sf)
- HOA Dues: $123/month
- Mello Roos Tax: No
- Price: $1,495,000/$388 per square foot
- Single-family built in 1966
- Beds/Baths:3/2.5 (1,741 sf)
- HOA Dues: $179/month.
- Mello Roos Tax: No
- Price: $599,500/$344 per square foot
Source: Redfin