The Housing Numbers for the Irvine Business Complex: Irvine’s Evolving, Mixed-Use Urban Center
Irvine Business Complex (IBC) Median Price per SF
Following are recent numbers for the live-work-play district, the Irvine Business Complex (IBC). All the homes on the market in this urban, mixed-use area are condos, which have a wide range of prices. For example, one of the most affordable IBC homes that is currently on the market is a one bedroom at 1331 Scholarship with an asking price of $234,900. The most expensive IBC home on the market is a three-bedroom penthouse at 5150 Scholarship #1204 with an asking price of $3,499,500. When shopping for a home in this area, it is wise to keep in mind the homeowners fees, which in these examples are $308 and $1,850 monthly.
Note the recent sharp decline in the median price per square foot (as shown by the black line in the top graph, the blue line is the list price) and the increase in the number of homes on the market (as shown by the blue line in the bottom graph). To see what other homes are currently available in the IBC, see the Irvine Business Complex map.
March 28, 2009
- Median List Price: $500K/$429 per square foot
- Median Sold Price*: $280K/$219 per square foot
- Median Days on Market: 112
- Number of Homes on the Market: 133 (5 foreclosures)
- Median List Price: $550K/$429 per square foot
- Median Sold Price*: $435K/$435 per square foot
- Median Days on Market: 132
- Number of Homes on the Market: 131 (10 foreclosures)
- Median List Price: $624K/$446 per square foot
- Median Sold Price*: $435K/$387 per square foot
- Median Days on Market: NA
- Number of Homes on the Market: 117
- Median List Price: $699K/$495 per square foot
- Median Sold Price*: $450K/$340 per square foot
- Median Days on Market: NA
- Number of Homes on the Market: 103
*Based on homes sold or taken off market in the previous 90 days.
Irvine Busines Complex (IBC) Number of Homes on the Market
Source: Redfin