Irvine Market Update - August 🏡

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Home values are increasing and will continue strong throughout the remainder of the year and into 2022.  Although home appreciation is increasing at an astonishing rate, it does not mean there will be a housing bubble or an inevitable crash.  There is no data that statistically supports that conclusion.  Let's take a look at the stats: 70% of sales sold above full asking price in July  50% of sales sold above full asking price for the past 10+ consecutive months Expected Market Time = 28 Days (Anything <45 Days signals an insanely hot market) Available inventory is down 20% from the 3-year average; the continued imbalance of supply and demand will continue to fuel home appreciation  Sellers:  I have a short list of off-market homes, where Sellers would sell if they can find a replacement property.  Are you in that situation?  Contact me and perhaps I can make a match and put together an off-market deal.  See section below "Buyer Needs" - do you have a home that meets this criteria? Buyers:  Inventory is slowly increasing and mortgage rates are still low!  Competition is still fierce, but I can get your offer accepted.  Contact me to find out how.  Also contact me for "off-market/coming soon" homes.     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.  - Ellie Yung, Your Orange County Real Estate Specialist Irvine Market Update June - August 2021 (60-day Lookback) July 2020 - July 2021 (12-Month Lookback) Market Action Index Comparison rate of sales versus inventory   The market has started cooling off a bit and prices have been flat for several weeks.  However, we continue to be in a Seller's Market due to lack of inventory. Listings by  Active Listing 19181 Mesa Drive - Now Offered At $1,549,000 4 Bedroom | 2 Bath | 2,692 Sq Ft | 20,311 Sq Ft Lot REDUCED 46K - PRICED TO SELL! BREATHTAKING PANORAMIC VIEWS!!  You will love the stunning mountain and sunset views from this home!  Gorgeous RARE SINGLE LEVEL RANCH HOME in the Rolling Hills of Villa Park.  Sitting on a 20,000 square feet lot, this home features 4 bedrooms, 2 baths, a Home Office complete with built-ins, an oversized Bonus Room, and over 200K in Upgrades.  Book your Private Showing today!   Schedule Appointment Recent Sales by  Buyer Needs I have a very strong buyer pipeline in a very low inventory market.  These buyers are pre-approved and ready to purchase.  If you have a home that meets the below criteria or know of someone willing to sell, please contact me immediately!  This could be a win-win situation. 1. Buyer #1 Single Family in Orchard Hills (The Groves) 4+ Bedrooms, 4+ Baths (Messina, Saviero, Vicenza) 3,600+ Sq Ft Price Range  <$2.3M 2. Buyer #2 Single Family in Orchard Hills (The Groves) 4+ Bedrooms, 4+ Baths 4,000+ Sq Ft / Lot Size 7,000+ Sq Ft / Private Pool Price Range  <$3M 3. Buyer #3 Single Family in Irvine Downstairs Junior Suite 4 Bedrooms, 2.5+ Baths 3,000+ Sq Ft Price Range <$2.5M 4. Buyer #4 Condo or Single Family in Woodbridge 2+ Bedrooms, 2+ Baths Price Range <$700K What's New with  ? THANK YOU NEIGHBORS!!  I'm so grateful to be voted Nextdoor Favorite Real Estate Agent for the 5th year in a row!  Thank you to everyone that voted and for your continued support.  It means so much to my business!⁠   Follow our Facebook Business Page to stay informed on future events! M: 310.251.5428 EllieYung.com Ellie@EllieYung.com Forward to a Friend Copyright © 2019 Ellie Yung Real Estate, All rights reserved. Want to change how you receive these emails? You can update your preferences or unsubscribe from this list. View this email in your browser