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HYPE VERSUS DATA
Amidst all the chatter about an imminent real estate crash, the best advice is to tune out the noise and stick to the facts. Don't be swayed by the abundance of social media accounts fueling the housing crash narrative. The truth is, today's housing market is scorching hot and shows no signs of cooling down anytime soon. There is simply no crash in sight.
BUYERS: HOUSING MARKET IS SCORCHING! The housing market is in crisis mode, grappling with a shockingly low supply of available homes for sale. Buyers are facing an uphill battle, repeatedly submitting offers without success. To combat this dire situation, I've taken matters into my own hands by sending "I have a buyer" letters, searching for off-market homes for my clients. This severe scarcity is reflected in the astonishingly short market time of just 39 days, reminiscent of 2022.
SELLERS: ACTIVE INVENTORY IS AT ITS LOWEST LEVEL! This trend will continue as long as mortgage rates remain elevated. Homeowners continue to "hunker down" in their homes, unwilling to move due to their current underlying, low fixed-rate mortgage. Yet, the market strongly favors sellers, with homes fetching top dollar, multiple offers pouring in, and contingencies being waived left and right. It's an outstanding time for sellers to capitalize on this hot seller's market!
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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April 2022 - April 2023 (12-Month Look back)
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Market Action Index (MAI)
Comparison rate of sales versus inventory
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The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
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Coming Soon Listing by 
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601 S 5th Ave, Unit B, Arcadia - Offered At $1,089,000
4 Bedroom | 3 Bath | 2,022 SqFt Living
On Market - June 21, 2023
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Don't miss out on this charming single family home zoned for award winning schools! This home has been recently upgraded with new kitchen, bathrooms, and floors. With its clean, light-filled interior and open floor plan, it's sure to impress. Enjoy the convenience of being within walking distance to parks, restaurants, and grocery stores. Plus, you'll have easy access to schools, shopping malls, and the 210, 10, and 605 freeways. You do not want to miss out on this one! More details to come!
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Off-Market Listings by
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Covenant Hills, Ladera Ranch - Offered At $3,800,000
6 Bedroom | 7 Bath | 4,921 SqFt Living | 11,347 SqFt Lot
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This stunning Spanish-style custom home has been meticulously upgraded to suit modern tastes. Located in the exclusive guard-gated community of Covenant Hills in Ladera Ranch, the property boasts a prime location on a single loaded street at the end of a cul-de-sac, situated on an expansive 11,000+ square foot lot. With six bedrooms, seven baths, an office, and a casita, this home offers ample space and breathtaking views of the city and rolling hills. The interior seamlessly blends timeless elegance with contemporary design, creating a luxurious and inviting atmosphere.
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Windflower, Aliso Viejo - Offered At $749,000
2 Bedroom | 2 Bath | 1,047 SqFt Living
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Discover the epitome of elegance in this stunning townhome situated in the highly sought-after community of Windflower in Aliso Viejo. Boasting a desirable layout, this residence offers a convenient downstairs bedroom and full bath, providing flexibility and comfort. Upstairs, you'll find another spacious bedroom and bath, ensuring ample space for relaxation and privacy.
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In Escrow by
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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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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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YIKES! DON'T MAKE THESE 3 MISTAKES WHEN YOU ARE IN ESCROW!!!
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Mistakes can cost you, especially when you are in escrow! Escrow is the period of time between when an offer has been accepted by the seller and when the home sale is completed. Here are three common mistakes that you should avoid when you're in escrow.
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Who Is Ellie Yung? Want to Know More? Here are some Fun Facts about Ellie I can bet you didn't know! Get to Know Ellie Yung, as more than just a Real Estate Agent! You may have more in common than you thought!
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What's New with ?
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SPRING FAMILY PHOTO EVENT - THANK YOU!
We're thrilled to share that our annual Northpark Spring Family Photo Event was a huge success, thanks to popular demand! We had the pleasure of hosting over 40+ wonderful families and had an absolute blast. Thanks for your support and be on the lookout for future events in your community! Follow us on Facebook, Instagram, and YouTube to stay informed on future events.
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