Sweet Orange

According to Redfin, Irvine’s July housing stats broken down by detached houses and condos categories were as follows. Note that condos play a significant role in Irvine’s housing stock, In July, 59% of the Irvine homes that were on the market were condos.

Home on the market (Inventory)

• Detached house: 487
• Condo: 701

Median price per square foot

• Detached house
  List: $370/SF
  Sold: $322/SF
• Condo
  List: $343/SF
  Sold: $328/SF

Price reductions*:

• Percentage of home with price reductions
  Detached house–36.1%
  Condo–37.1%
• Total percent of the reduction
  Detached house–7.4%
  Condo–6.3%

Days on Redfin*

• Detached house: 62
• Condo: 66

Also note that Redfin’s overall list price in July 2009 was $620,000, and the May 2009 sold price was $570,000. In addition, 239 Irvine homes sold in May 2009.

*Based on homes sold or taken off the market between June 2, 2009 and August 31, 2009

Source: Redfin