Irvine’s Westpark Neighborhood: A Look at the Housing Numbers
Trulia statistics state that the median price for all Westpark homes selling in the first quarter of 2009 was $462,000. This is a decrease of 20.0% when compared to the previous quarter, an increase of 4.5% when compared to the previous year, and a decrease of 6.5% when compared to the price of 5 years ago. The number of sales stayed constant when compared to the number of sales one year ago.
Trulia states that the average price per square foot in the first quarter of 2009 was $339. This is up 11.1% from the same period last year.
Trulia also states that 21 homes sold in Westpark during the first quarter of 2009, and 47 homes are currently on the market in Westpark. With 41 of these homes in the pre-foreclosure or bank-owned stage of the foreclosure process, a remarkably high percentage of the Westpark homes are in distress.
Following are some Westpark numbers provided by Redfin. For more information on this area, see the Westpark map.
April 4, 2009
- List price: $700K/$359 per SF
- Sold price: $443K/$326 per SF*
- Median days on market: 88*
- Number of homes on the market: 39
(30 detached/9 condos; 0 Bank and MSL foreclosures)
February 27, 2009
- List price: $744,000/$361 per SF
- Sold price: $594K/$324 per SF*
- Median days on market: 127*
- Number of homes on the market: 34
(28 detached/6 condos; 0 Bank and MSL foreclosures)
January 31, 2009
- List price: $737,000/$366 per SF
- Sold price: $580K/$358 per SF*
- Median days on market: 96*
- Number of homes on the market: 24
December 30, 2008
- List price: $749,000/$358 per SF
- Sold price: $572K/$369 per SF*
- Median days on market: 83.5*
- Number of homes on the market: 25
Tomorrow: Westpark: The Highs, the Lows, and the In Between
More recent number from Trulia (February 2009 to April 2009)show Westpark prices increasing but sales decreasing. Trulia’s numbers are based on 17 sales for this period. “Compared to the same period one year ago, the median sales price increased 20.4%, or $90,000, and the number of sales decreased 37%.”