Irvine CA Housing Market Update for July, 2010 – For Sale Listing Numbers Were Up

Irvine housing market update

The Irvine, California, housing market had 821 homes were listed for sale at the end of July, 2010.  That’s up from the 720 listed as of the end of June and lots more than any time during the past six months. 

155 of those listed were short sales (18.9% of market), and 33 were bank owned after foreclosure (4% of market).

Irvine homes sold July 2010 

165 Irvine homes were sold during July, 2010.

13 of those sold were bank owned REO(7.8% of solds).

37 of those sold were short sales (22.4%) of solds.

198 Irvine homes were sold in June 2010, so July numbers are down. 

395 Irvine homes were in pending and backup status on the MLS at the end of July 2010.  pending sales at Irvine215 of those pending and in backup were short sales (55% of pending and backup were short listings). 

Market time for sale of Irvine homes

When comparing number of Irvine homes sold (165) during July with the number of those listed for sale at end of month (821), we find that 20 percent of homes on market were sold in this one month.  So at that rate of sale, it would theoretically take five months to sell all Irvine homes now on the market. 

What we learned

Irvine, CA, housing market is a bit softer these days.  The number of Irvine homes listed for sale in July was up, and number of homes sold was down from prior months.  Market time for sale at Irvine homes is longer (about 5 months), showing more balance, not favoring buyers or sellers.
 
Source of information: SoCal Multiple Listing Service
 

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Harrison K. Long
REALTOR and broker associate, Explore Group Properties, Coldwell Banker Previews
949-854-7747 (phone) - ExploreProperties@gmail.com (email) – CA DRE 01410855 –

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About Harrison

Businessman, Professional Realtor agent, GRI, Broker associate, Coldwell Banker Residential Brokerage - Orange County, California - CA DRE 01410855 - Helping property owners, estate trustees, executors and administrators, fiduciaries, bankers, investor group managers, with listing and sale of properties - helping people with their best decisions about homes and real estate - Member at the Orange County Association of REALTORs (serving on its board of directors for 2012); California Association of Realtors (serving on its board of directors for 2011-2102); National Association of Realtors - Also an attorney member of the California State Bar Association #69137 - Contact by telephone or text at 949-701-2515
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