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EVIDENCE THE REAL ESTATE MARKET IS BOUNCING BACK
In 2021 and 2022, the real estate market was setting records left and right – soaring existing home sales numbers, quickest days on market times, skyrocketing home prices – and then the second half of 2022 happened and we saw the market balancing. No, it didn’t crash or collapse or nosedive, it balanced and normalized to a more sustainable state of existence that benefits us all.
And while sustainability is always a good thing, it came paired with rising mortgage rates and higher levels of inflation, which slowed sales activity in all markets. However, there's a new energy in the real estate industry, and the market is turning around with better prospects for buyers and sellers.
BUYERS: GET READY, SET, GO! The housing market is on the upswing with interest rates slowly drifting downward and more buyers returning to the market. As the economy slows, mortgage rates are predicted to fall, leading to improved affordability and increased demand. If inflation drops and the economy cools, rates could even dip to 5.5% by summer, providing buyers with more options. As rates drop, affordability will improve, allowing more purchasers to enter the housing arena.
SELLERS: TIME TO LIST! With the housing market experiencing a notable shift, there's no better time to take advantage of the current market conditions. Active listing inventory has dropped by 5%, reaching unprecedented lows, with 1,375 fewer homes available for sale compared to last year. Even in Irvine, there are only 151 homes on the market. Recent weeks have seen a significant 18% increase in demand, making it a prime time for sellers to sell. With demand surging and supply dwindling, the Expected Market Time has reduced from 56 to just 45 days.
Included below is your 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
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November 2022 - February 2023
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January 2022 - January 2023 (12-Month Look back)
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Market Action Index (MAI)
Comparison rate of sales versus inventory
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Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
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To obtain a complimentary instant home valuation and quick peek at the market activity near your home, please click the button below.
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Listings by 
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FOR SALE
388 E. Ocean Blvd #907, Long Beach - Offered At $465,000
1 Bedroom | 1 Bath | 680 SqFt Living
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Always dreamed of living at the beach? Here's your chance to enjoy Luxury Living in downtown Long Beach at the highly desirable Aqua Towers. As you enter the home, you will be greeted by the spectacular OPEN FLOORPLAN with SOARING 10' CEILINGS, upgraded travertine flooring, spacious living room, and large windows with gorgeous views of the city lights. Gourmet Chef's Kitchen has been upgraded with granite countertops, custom maple wood cabinets, and a large kitchen island which includes tons of storage and a breakfast nook. Kitchen opens up seamlessly to the Great Room which features sliding doors out to the balcony for indoor/outdoor entertaining. You will love the spacious MASTER SUITE with direct access to the oversized Master Bath which features lots of storage, newer glass tub/shower enclosures, and upgraded fixtures. Laundry is conveniently located inside the home.
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FOR LEASE
59 Tavella, Lake Forest - Offered At $4,900/Month
3 Bedroom | 2.5 Bath | 2,004 SqFt Living | 7,009 SqFt Lot
Available March 8th, 2023
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Gorgeous 3 bedroom, 2.5 bath VIEW home on an OVERSIZED 7,000+ Sq Ft Lot in the highly sought after community of Foothill Ranch! With one of the largest yards in the community, this home has everything you've been looking for! CATHEDRAL HIGH CEILINGS, gorgeous terra cotta floors, and large windows that bring in lots of NATURAL LIGHT. You will love the spacious formal dining room and gourmet kitchen that opens to a separate family room. Escape upstairs to find new plush carpeting and 3 SPACIOUS bedrooms. Well appointed MASTER SUITE promises to pamper you in spa-like luxury. Entertain in the NEWLY LANDSCAPED private serene backyard. Massive yard is complete with concrete pavers and grass with STUNNING CITY VIEWS. New Stainless Steel Kitchen Appliances, All New Toilets & Faucets, New Carpeting, New Light Fixtures, New Backyard Landscaping. Enjoy association pools, lavish greenbelts and walking/hiking paths. PRIME LOCATION! This home will not last!
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Recent Sales by
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Investment Video Series with
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There will be a new video each week so be sure to subscribe!
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WHAT IS MELLO ROOS AND IS IT SO BAD?
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Don't know what Mello Roos is? Don't panic! Learn all about this annual tax and how to avoid it in this video. Discover the good and bad of Mello Roos, how it's calculated, and which neighborhoods have the highest and lowest rates. Don't miss out, start saving thousands by understanding Mello Roos today!
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TOP 5 TIPS ON PURCHASING AN INVESTMENT PROPERTY
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Want to become a landlord and start earning passive income? Learn how to take the guesswork out of purchasing an investment property in this video! Discover key strategies for finding the right property to maximize your returns and avoid costly mistakes. Don't miss out, start building your wealth as a landlord today!
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What's New with ?
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We had an amazing time during President's Weekend in Mammoth! Our kids had a blast, and it was a fantastic opportunity to get away and spend some much-needed family time together.
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