My post from last week provided some stats on the Irvine housing market, for example, the percentage of the asking price that homes in Irvine sold for. That got me to wondering how these numbers compared to the numbers for other cities near Irvine. So that is what we will look at in today’s post. The following numbers are for the ninety days that precede July 28.

Any opinions on what the following numbers are telling us about this housing market?

According to Redfin, the median selling price in June for an Irvine home was $652K or $395 per square foot. (The list price was $730K or $422 per square foot.) Redfin also provides some statistics for home that sold in Irvine in the last ninety days:

• Median sale to list price: 100.5%

• Average number of offers: 4.7

• Average down payment: 24.7%

• Number of homes sold: 508

Today we will take a look at a few of the homes in Irvine that have asking prices that are near the June selling price.

4392 SKYLARK

• $659,000 ($442/SF)

• 3 beds/1.75 baths

• 1492 SF

• Single family built in 1974

• El Camino Neighborhood

• HOA Dues: $60/month

• Mello Roos: No

421 RIDGEWAY

• $649,900 ($404/SF)

• 3 beds/3 baths

• 1610 SF

• Condo built in 1999

• Northwood Pointe Neighborhood

• HOA Dues: $284/month

• Mello Roos: Yes

185 GREAT LAWN

• $639,800 ($492/SF)

• 3 beds/2.5 baths

• 1300 SF

• Condo built in 2006

• Woodbury Neighborhood

• HOA Dues: $203/month

• Mello Roos: Yes

According to Altos Research, the Market Action Index (MAI) for Irvine’s single-family housing market is 42.57. As defined by Altos, this put the Irvine single-family housing market in the seller’s market category. (Above 30 is defined as a seller’s market; below is defined as a buyer’s market.) However, after a steady upward climb since the beginning of the year, Irvine’s MAI has started trending down. We will see if this holds true for next month.

Altos also states that the average single-family home in Irvine has been on the market for about 79 days as of July 5, 2013.

Following is Irvine’s June 2013 housing market data provided by Redfin.

Three of the lowest priced homes on the market in Irvine are located on Streamwood in the Northwood area (across from the Northwood Shopping Center). Let’s take a closer look at these homes on the low-end of Irvine’s housing market.

One of the lowest priced homes that is currently on the market in Irvine and is at 284 Streamwood. The asking price is $195,000. However at $470 per square foot, the price per square foot for this small studio is over Irvine’s median of $424. This home is listed by the Sage Investment Group.

Here are more details on this home at 284 Streamwood:

• Asking price: $195,000

• Asking price per square foot: $470

• Beds/Baths: No bedroom, but at least you get a bath!

• Number of square feet: 415

• Neighborhood: Northwood

• HOA dues: $260

• Mello Roos: None

A sale is pending for nearby 185 Streamwood. The asking price for that home is $190,000; however, it is a one bedroom and one bath home, and the price per square foot works out to $297 per square foot. The listing, which is by First Team Estates, states “Cash offers only at this time”.

Here are more details on this home at 185 Streamwood:

• Asking price: $190,000

• Asking price per square foot: $297

• Beds/Baths: 1/1

• Number of square feet: 639

• Neighborhood: Northwood

• HOA dues: $260

The home at 171 Streamwood is also one of the least expensive homes on the market in Irvine. This home is listed by Power Funding Solutions, Inc.

Here are more details on this home at 171 Streamwood:

• Asking price: $210,000

• Asking price per square foot: $506

• Beds/Baths: Again, no bedroom, but at least you do get a bath!

• Number of square feet: 415

• Neighborhood: Northwood

• HOA dues: $260