Jun 10
8
Irvine Condos for Sale
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Irvine Condos for Sale
The Condo Market in Irvine in line with the general Irvine Real Estate market has started showing signs of improvement with median sales price increasing and Irvine condos for sale selling faster.
Irvine Condos for Sale Statistics:
Irvine California Median Sales Price -15.54%
Irvine California Median Days on Market 6.01%
Number of Housing Units Sold in Irvine 60.00%
Sales Price to List Price Ratio Feb 09 92% – Feb 10 82%
While sale prices for Irvine Condos for Sale are lower than last year resulting in sellers pocketing less that asking price with homes spending more time on the market the good news is that the market is showing signs of much needed upward movement in sales numbers.
Irvine Real Estate
Irvine real estate in genersl showed a 15.54% decrease in median sales price from last year going down from $1,021,650 inFebruary 2009 to $862,875 in February 2010.
Median days for homes on the Irvine market shows that houses are selling slower than February 2009. It took 65 days in February 2009 for a house to sell and for February 2010 that number has gone up to 68 days an increase in days on the market before sale of3 days or 6.01%.
The total figure for housing units sold in the month of February 2009 was 40 units. However 64 housing units where sold in February 2010. This represents an increase in sales year over year for the month of February of 24 units or an increase in units sold of 60%.
Although the market for real estate in Irvine hasn’t recovered it is clear that with proper price adjustment units will sell in good time.
So the advice for owners of Irvine Condos for Sale is to ensure that you team up with a real estate professional who will price your Irvine Condo for Sale at the proper level to ensure a sale in the minimum time frame.