May Irvine Market Update

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Hope everyone had a lovely Mother's Day! So what's happening in the real estate market? The real estate industry has adapted to selling homes in this new COVID-19 environment. Buyers are becoming more accustomed to 3D virtual tours and viewing properties with protective face masks while respecting proper social distancing protocol. As a result, it is not surprising that demand has increased by 9% in the past two weeks, growing from 1,080 to 1,172 pending sales.

The market is thawing and we are past the worst of it with demand now on the rise. Mortgage rates reached an all-time low last week, dropping to an average of 3.23% across the country. However, there is still a huge shortage in inventory and many buyers are still waiting on the sidelines for the perfect home.

Included below is your 60-day and 12-month Irvine Real Estate market snapshot. I am your local resource for all your real estate needs. Referrals are always appreciated. Stay safe everyone!

- Ellie Yung, Your Irvine Real Estate Specialist

Irvine Market Update

March - May 2020 (60-day Lookback)

May 2019 - May 2020 (12-month Lookback)

Downpayment Assistance Programs

GSFA (Golden State Financial Authority) is a limited-time program for California buyers that provides up to 5% in Down Payment Assistance with no need to pay it back after 3 years. Contact me if you have any questions about how we can use GSFA to possibly secure you 0% down on a new home!

Listings By

18 Shadybend - Offered at $1,920,000

4 Bedrooms I 3.5 Baths I Estimated 4,191 Sq Ft

Gorgeous Tuscan estate home located behind the guard-gates of the The Groves in the luxury community of Orchard Hills! Premium lot with NO HOMES behind or in front.

Click Here for Highlight Reel

9 Basilica - Offered at $1,499,000

5 Bedrooms I 4.5 Baths I Estimated 4,514 Sq Ft

Stunning Meriden Estate located behind the prestigious guard-gated enclave of Covenant Hills! With unobstructed Panoramic Hillside Views, this custom home showcases a Grand Master Retreat, Main Floor Guest Suite and Office, plus a rare Third-Floor Loft!

Click Here for 3D Virtual Tour

COMING SOON

76 Lakeview - Offered at $749,000

2 Bedrooms + Den I 2 Baths I Estimated 1,616 Sq Ft

Coming Soon! Spacious condo located in the gated community of Arborlake in Woodbrige in Irvine with access to a private beach and right next to the Lagoon in North Lake. Contact me for more details and see the home before it comes on the market!

What's New with ?

We are adjusting to the "new normal" with social distancing and finding creative ways to keep busy. The kids are happy and really enjoying this time at home. We are missing all our family and friends though!