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September Irvine Market Update
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The housing market is HOT, HOT, HOT!! The days of multiple offers are back with buyers out in full steam.
For home sales below $1M, the expected market time is 29 days which is considered a hot seller's market. For homes sales above $1M (luxury housing market), the expected market time is on average 68 days. The luxury housing market broke records in the last month, up 2% in the last 2 weeks.
After the initial hit COVID-19 had on the housing market in March, demand has come roaring back, surpassing everyone's expectations. Today, demand is at the highest levels we've seen in years, and as a result there have been more closed sales than ever before. Mortgage rates are also at an all-time low with one of my clients locking in a rate of 1.875%!
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!
Gorgeous Model-Like detached home in the brand new community of Corte Bella in Orchard Hills. Built in 2015, this highly upgraded home features 3 bedrooms, 2.5 baths, and an open floorplan. Prime location with no neighbors directly behind and close proximity to community amenities. Contact Ellie for more details.
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With COVID-19, I'm sure like many of you, I spend a lot of my time in the house, in the backyard, in the front yard.... Here's a throw back to last year and what I was doing around this time. I miss NY and traveling but hopefully soon enough!
