Category Archives: News

Irvine Housing Overview: Condos and Houses—February 2014

According to Altos Research, the Market Action Index (MAI) for Irvine’s single-family housing market was 37.75 on February 28. As defined by Altos, this puts 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.) Altos also states that the average single-family home in Irvine has been on the market for about 108 days as of February 28, 2014.

Following is Irvine’s 2014 housing market data as provided by Redfin.

Type List Price/# Homes Listed Sold Price/# Homes Sold List Per SF Sold Per SF % Chg Y-O-Y Sold Price/SF
Houses
14-Feb $1,090K/203 $905K/57 $451 $420 10.50%
14-Jan $1,082K/170 $832K/62 $461 $429 22.20%
Condos
14-Feb $599K/248 $560K/80 $406 $395 13.50%
14-Jan $603K/226 $626K/58 $406 $392 20.60%
All
14-Feb $745K/479 $665K/145 $421 $400 10.50%
14-Jan $412K/422 $688K/130 $422 $412 23.40%

A Few Upcoming Open Houses in Irvine—March 5 to March 9

We had a lot of rain lately. Since we are in a drought, that is a good thing. However, it hasn’t been the best weather for house hunting. I don’t know what the weather might be in the coming week, but, in case it doesn’t rain (or even if it does), here are a few open houses in Irvine that you might want to take a look at.

947 Somerville

• $549,000 ($436/SF)

• 2 beds/2 bath

• 1,260 SF

• Condo built in 1998

• Northwood Point Neighborhood

• HOA Dues: $285/month

• Mello Roos: Yes

• Open House: Wednesday, March 5, 10:30 am-1:30 pm

398 Monroe #180

• $558,000 ($395/SF)

• 3 beds/2.5 bath

• 1,411 SF

• Condo built in 1985

• Northwood Neighborhood (near the freeway)

• HOA Dues: $210/month

• Mello Roos: No

• Open House: Saturday, March 8, 1-4 pm

128 Coral Rose

• $648,000 ($448/SF)

• 2 beds/2.5 bath

• 1,445 SF

• Condo built in 2003

• Turtle Ridge Neighborhood

• HOA Dues: $275/month

• Mello Roos: Yes

• Open House: Sunday, March 9, 1-4 pm

IRWD’s Leak-Fixing Tips and Contest

Due to the current drought in California, IRWD is asking its customers to voluntarily reduce their water use by 20%. Since 20% of our water overuse is from outdoor watering and sprinkler over spraying, adjusting our habits in regards to these two sources is an easy way to reduce water use.

Fixing leaks is another way that can help to save water as well as reduce our water bills. The Irvine Ranch Water District in partnership with the Environmental Protection Agency’s Watersense program is sponsoring Fix a Leak Week. If you enter this contest by March 30, you will be entered in a drawing to win gift cards valued at $500, $300, or $100 from IWRD’s WaterSense partners, Home Depot or Lowe’s.

Here are the details from the IRWD website:

  1. Enter this contest only if you are an IRWD customer.

  2. Enter the contest by March 30. Note that mailed-in entries will be accepted through April 7.

  3. Send a photo or short video to calscape@irwd.com that shows your Leak Detective skills. Include your mailing address. Some sample of the type of pictures that you might submit:

  4. If supplies are still available, IWRD will mail you an IRWD CALscape Kit.

  5. Allow 6-8 weeks for delivery of your CALscape Kit.

To view some videos on fixing sprinkler leaks, toilet leaks, checking your water meter and identify where a leak is coming from, click on the videos at the bottom of the IRWD webpage. Also note that IRWD offers free in-home water-use audits.

For additional information or questions: See the IRWD website, email calscape@irwd.com, or call 949-453-5322.

Additional post on IRWD and water-saving tips: Water-Saving and Bill-Reduction Tips from IRWD and IRWD CALscape Workshops Available Soon.

Irvine Housing Numbers by Neighborhood: January 2014

Today it’s a full circle look at the Irvine housing market numbers by neighborhood—January 2013 to January 2014:

Area

List Price/# Homes Listed

Sold Price/# Homes Sold

List Per SF

Sold Per SF

% Chg Y-O-Y Sold Price/SF

Airport/IBC

14-Jan

13-Oct

13-Jul

$620K/55

$598K/68

$699K/71

$645K/11

$480K/25

$428K/24

$433

$433

$439

$398

$398

$428

20.2%

17.4%

32.90%

13-Apr

$713K/37

$460K/31

$410

$376

24.50%

13-Jan

$694K/40

$440K/13

$398

$333

8.10%

Columbus Grove

n/a

El Camino Real

14-Jan

13-Oct

13-Jul

$669K/19

$680K/19

$704K/20

$610K/8

$602K/14

$555K/11

$416

$408

$399

$445

$383

$349

21.9%

22%

-2.80%

13-Apr

$607K/10

$490K/11

$369

$393

36.50%

13-Jan

$535K/17

$555K/12

$366

$380

42.30%

Northpark

14-Jan

13-Oct

13-Jul

$745K/47

$638K/55

$649K/35

$494K/11

$682K/30

$592K/32

$396

$379

$391

$368

$375

$392

16.1%

15.7%

35.60%

13-Apr

$625K/25

$625K/31

$359

$341

20.50%

13-Jan

$722K/24

$466K/22

$351

$321

15.90%

Northwood

14-Jan

13-Oct

13-Jul

$793K/54

$707K/92

$674K/72

$736K/18

$746K/44

$826K/46

$397

$401

$411

$379

$387

$388

20.7%

15.9%

14.50%

13-Apr

$798K/33

$738K/34

$377

$362

16.80%

13-Jan

$750K/23

$750K/25

$373

$305

4.50%

Oak Creek

14-Jan

13-Oct

13-Jul

$387K/18

$377K/22

$612K/24

$625K/5

$458K/9

$430K/20

$423

$409

$408

$438

$409

$395

29.6%

31.1%

36.20%

13-Apr

$330K/13

$435K/25

$361

$359

14%

13-Jan

$362K/14

$362K/14

$362

$338

29.50%

Orange Tree

14-Jan

13-Oct

13-Jul

$349K/11

$324K/12

$340K/7

$356K/2

$262K/3

$369K/9

$423

$399

$396

$489

$378

$389

51.9%

28.8%

34.10%

13-Apr

$300K/9

$274K/8

$380

$326

60.60%

13-Jan

$278K/8

$328K/4

$345

$332

33.30%

Portola Springs

14-Jan

13-Oct

13-Jul

$800K/26

$772K/28

$700K/19

$785K/11

$775K/7

$640K/7

$377

$381

$400

$385

$387

$389

17.4%

28.1%

22.70%

13-Apr

$608K/4

$667K/11

$347

$385

28.80%

13-Jan

$1,024K/8

$614K/8

$375

$329

12.30%

Quail Hill

14-Jan

13-Oct

13-Jul

$719K/15

$639K/20

$599K/21

$720K/5

$649K/10

$829K/13

$414

$406

$439

$415

$419

$414

26.1%

7.4%

6.40%

13-Apr

$754K/14

$860K/14

$413

$431

15.20%

13-Jan

$790K/10

$600K/7

$414

$341

4.60%

Rancho San Joaquin

14-Jan

13-Oct

13-Jul

$598K/10

$600K/6

$679K/6

$590K/2

$640K/3

$648K/1

$356

$397

$383

$366

$329

$319

48.8%

6.8%

18.60%

13-Apr

na/0

$486K/4

n/a

$367

n/a

13-Jan

$564K/2

na/0

$333

n/a

n/a

Shady Canyon

14-Jan

13-Oct

13-Jul

$7,145K/24

$6,499K/29

$5,988K/26

$1,800K/1

$3,800K/1

$4,300K/3

$780

$762

$786

n/a

$655

$717

n/a

2.7%

22.40%

13-Apr

$5,995K/23

$4,538K/2

$776

$777

51.80%

13-Jan

$5,700K/15

$6,675K/1

$736

$668

25.10%

Turtle Ridge

14-Jan

13-Oct

13-Jul

$2,342K/28

$1,647K/38

$1,800K/27

$720K/9

$1,795K/6

$1,699K/12

$699

$624

$625

$552

$582

$628

3.8%

41.3%

23.10%

13-Apr

$1,414K/22

$940K/13

$594

$531

26.10%

13-Jan

$2,302K/10

$1,295K/6

$605

$532

49.90%

Turtle Rock

14-Jan

13-Oct

13-Jul

$1,205K/16

$1,249K/32

$1,245K/33

$1,200K/3

$1,290K/11

$1,150K/13

$574

$501

$519

$534

$525

$514

13.9%

24.4%

13%

13-Apr

$1,025K/21

$895K/12

$545

$462

0.20%

13-Jan

$949K/13

$946K/8

$434

$466

58%

University Park

14-Jan

13-Oct

13-Jul

$689K/11

$739K/13

$749K/14

$648K/6

$691K/6

$720K/15

$447

$408

$403

$430

$400

$420

25.7%

10.2%

0.70%

13-Apr

$625K/9

$661K/11

$406

$327

20.20%

13-Jan

$625K/7

$570K/10

$330

$351

26.70%

University Town Center

14-Jan

13-Oct

13-Jul

$599K/5

$636K/1

$505K/9

$500K/1

$504K/4

$716K/2

$415

$397

$422

$439

$380

$361

16.4%

5.8%

14.20%

13-Apr

$589K/2

$477K/2

$365

$393

19.50%

13-Jan

$551K/1

$575K/1

$407

$377

19.70%

Walnut

14-Jan

13-Oct

13-Jul

$824K/9

$759K/7

$740K/15

$580K/6

$726K/6

$666K/9

$375

$377

$390

$367

$341

$386

33.5%

6.9%

20.20%

13-Apr

$620K/6

$580K/11

$398

$395

29.10%

13-Jan

$430K/3

$657K/4

$350

$275

6.20%

West Irvine

n/a

Westpark

14-Jan

13-Oct

13-Jul

$657K/8

$800K/15

$650K/17

$742K/8

$650K/9

$615K/12

$420

$424

$408

$406

$382

$401

17%

4.4%

37.80%

13-Apr

$824K/6

$700K/6

$411

$414

33.10%

13-Jan

$589K/4

$745K/6

$486

$340

-4.50%

Woodbridge

14-Jan

13-Oct

13-Jul

$644K/42

$662K/44

$539K/60

$645K/16

$578K/28

$512K/40

$410

$393

$400

$421

$397

$401

19.3%

21.8%

23.40%

13-Apr

$585K/31

$659K/34

$409

$377

30.40%

13-Jan

$694K/22

$500K/22

$363

$357

30.80%

Woodbury

14-Jan

13-Oct

13-Jul

$725K/38

$790K/53

$697K/42

$820K/9

$665K/15

$711K/12

$407

$427

$436

$425

$398

$413

28.4%

24%

43.90%

13-Apr

$699K/19

$647K/28

$424

$404

38.80%

13-Jan

$635K/11

$645K/17

$382

$331

13.40%

For a snapshot of the Irvine housing numbers by neighborhood in 2012, see my previous post.

Source: Redfin (redfin.com)

Irvine Housing Overview: Condos and Houses—January 2014

According to Altos Research, the Market Action Index (MAI) for Irvine’s single-family housing market was 37.80 on January 31, 2014. That is basically what Irvine’s MAI for single-family homes was last month about this time when the MAI was 36.93 MAI. As defined by Altos, this puts 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.) Altos also states that the average single-family home in Irvine has been on the market for about 100 days as of January 31, 2014.

Following is Irvine’s 2014 housing market data as provided by Redfin.

Type

List Price/# Homes Listed

Sold Price/# Homes Sold

List Per SF

Sold Per SF

% Chg Y-O-Y Sold Price/SF

Houses

14-Jan

$1,082K/170

$832/62

$461

$429

22.2%

Condos

14-Jan

$603K/226

$626K/58

$406

$392

20.6%

All

14-Jan

$412/422

$688/130

$422

$412

23.4%