September 2012 Market Trends for purchasing Irvine CA homes for sale

It’s hard to believe, but we are already half-way through September. The year is beginning to wind down, but with it, home sales are heading up.

Have you been considering purchasing one of many Irvine homes for sale but have hesitated? If so, it’s time to contact Full Service Refund and begin your dialogue with one of our discount FS Refund commission rebate real estate agents about Irvine houses for sale. The market trends, which we’ll explore below, give every indication of the real estate market becoming healthier than we’ve seen it in several years. This doesn’t mean it’s not a good time to buy – what it means is that it’s the perfect time to buy before the market once again turns into a seller’s market.

August/September 2012 Irvine CA Real Estate Trends

For starters, the condominium sales market is very close to the single-family home market. According to Redfin.com, the summer started with 168 Irvine condos for sale, versus 221 Irvine single-family homes for sale. The snapshot for Irvine’s summer home and condo sales are summarized here:

Type List Price/# Homes Listed Sold Price/# Homes Sold List Per SF Sold Per SF % Chg Y-O-Y Sold Price/SF
Houses
12-Aug $960K/221 $710K/125 $380 $345 -0.30%
12-Jul $949K/226 $760K/95 $382 $368 7.90%
12-Jun $890K/251 $735K/103 $384 $356 5%
Condos `
12-Aug $525K/168 $427K/141 $338 $306 0%
12-Jul $509K/181 $425K/115 $342 $306 -1.60%
12-Jun $498K/202 $430K/152 $336 $313 -1.30%
All
12-Aug $736K/390 $536K*/267 $362 $328 3.50%
12-Jul $744K/408 $545K/211 $363 $322 0.30%
12-Jun $720K/456 $515K/257 $363 $327 0.9%**
*The August 2012 median selling price was down 0.6% from August 2011. (Courtesy of irvinehousingblog.com)

As is evidenced, sales overall are trending upwards, although somewhat slowly. What has changed drastically in a short amount of time, however, is the median Irvine CA home price:

In just nine short months, the median Irvine CA homes for sale prices went from below $719,000 this January (2012) to between $850-$875,000 this September (2012) – a jump of more than $100,000. However, according to Alto Research and their proprietary Market Action Index on Irvine houses for sale, the index is currently at 22; for it to be buyer’s market according to Alto’s MAI, the index number needs to be 30. (http://localdev.altosresearch.com/show-me-the-data/market-action-index/)

So what does all this translate into? In a nutshell, it is still a buyer’s market, but Irvine homes for sale are on the move. It’s time to contact an FSRefund.com commission rebate discount real estate agent and review the properties that fit your criteria. It is also time to get pre-approved by a lender for Irvine houses for sale – something your discount Full Service Refund real estate can help with referrals – so that when you find your Irvine CA home, you can make an offer with confidence. For more information on getting pre-approved, please read our article on Why mortgage pre-approval before writing an offer is so important!

And don’t forget – every home purchased using one of our experienced, professional and discount Full Service Refund commission rebate real estate agents means you’ll receive a cash rebate back to you at your closing equal to 1% of your expert Realtor’s commission on any sale. For more information about getting started with your FS Refund commission rebate real estate agent today, like expert professional Realtor Michael Davar call 1-855-FSREFUND (1-855-377-3386)!

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