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HIGH DEMAND, LIMITED INVENTORY, AND INTENSE COMPETITION! The current real estate market is experiencing high demand and limited inventory, creating a highly competitive environment. Despite a 39% decrease in demand compared to pre-COVID levels, the supply of available homes is even lower, with a staggering 66% decrease. This scarcity of inventory has contributed to the hot market!
BUYERS: Resilient Housing Market! The housing market is booming despite the higher mortgage rate environment. With open houses teeming with eager buyers and bidding wars becoming commonplace, it is clear that the demand is strong and the market is highly competitive. Contact me to get your offer accepted in this hot market. I had a client tell me she would have purchased a home already had she met me sooner! Who you work with matters.
SELLERS: Housing Market is Crazy Once Again! Open houses are lined with buyers and bidding wars have returned, along with homes selling above their asking prices. There is a catastrophically low number of homes available, resulting in buyers competing to purchase. Now is the time to get your home on the market! The market will start to slow as we enter the Fall and Holiday Markets.
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 2023 - July 2023 (4-Month Look back)
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June 2022 - June 2023 (12-Month Look back)
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Market Action Index (MAI)
Comparison rate of sales versus inventory
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In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
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75 Bronze Leaf, Irvine - Offered At $1,200,000
3 Bedroom + Loft | 3 Bath | 1,538 SqFt Living
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Gorgeous townhome in the highly desired community of Zinnia in Cypress Village. Prime END UNIT location only attached on 1 side and with parking directly in front of your home. Built in 2014, this home features 3 bedrooms + LOFT, 3 baths, an open floorplan, and lots of upgrades. Enter through the formal foyer and you will be greeted by a LARGE and BRIGHT GREAT ROOM with high ceilings, recessed lighting, luxury vinyl flooring, and large windows overlooking the lush green belt in front of the home. The Gourmet Kitchen features upgraded Quartz countertops, large kitchen island, stainless steel appliances, and lots of storage. Zoned for award-winning Irvine Unified schools. Prime location!! Close to Woodbury Shopping Center which includes many dining options, Trader Joes, and much more. You do not want to miss out on this opportunity!
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125 Painted Trellis, Irvine - Offered At $1,300,000
3 Bedroom + Loft | 2.5 Bath | 1,626 SqFt Living
On Market - July 20, 2023
Open House Sat 7/22 and Sun 7/23 from 1-4 pm
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Gorgeous condo located in the beautiful community of Jade Court in Cypress Village. Completely DETACHED around the home and only attached at the garage, this 3 bedrooms + Loft, 2.5 baths home has one of the larger yards in the tract. PRIME LOCATION - across the street from Arbor Park and Cypress Village Elementary! The Gourmet Kitchen features upgraded cabinetry, Quartz countertops, a large kitchen island, stainless steel appliances, and a walk-in pantry. There is also a TECH space off the kitchen which is perfect for working from home! There are 2 additional spacious bedrooms at the opposite end which share an upgraded Jack-n-Jill bathroom with dual vanities. Entertain in the PRIVATE SERENE BACKYARD, professionally landscaped with pavers and tall lush trees for ultimate privacy. Zoned for award-winning Irvine Unified schools. Located across the street from HOA amenities including Olympic-sized pool, tot lot, and grass parks.This is a rare gem at this price!
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601 S 5th Ave, Unit B, Arcadia - Offered At $1,100,000
4 Bedroom | 3 Bath | 2,022 SqFt Living
On Market - July 26, 2023
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Don't miss out on this charming single family home zoned for award winning schools! This Private End Unit home has been fully upgraded with 4 spacious bedrooms + Loft. 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. Act quickly because this beautiful home won't stay on the market for long. Don't wait, it's a must-see! More details to come!
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12 Carpenteria - Offered At $2,195,000
4 Bedroom | 3 Bath | 2,405 SqFt Living | 4,462 Sq Ft Lot
On Market - End of August 2023
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Stunning Model-Like Home in the highly sought after 24-hr GUARD GATED community of Northpark! Located near the end of a quiet cul-de-sac, this home has been upgraded for today's modern taste. As you enter the home, you will fall in love with the OPEN FLOORPLAN, high ceilings, light wood flooring, and wall of windows adorning the large living and dining room. The recently remodeled CHEF'S KITCHEN is breathtaking, featuring upgraded ceiling height White Shaker Cabinets, custom Quartz countertops, Professional Grade Wolf appliances, Sub-Zero refrigerator, large waterfall kitchen island, and designer herringbone backsplash. The stacked sliding doors open the entire wall to the PRIVATE ENTERTAINERS BACKYARD, complete with a new custom pergola, built-in BBQ island with refrigerator, cooler and your very own SPA!
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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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ENTER TO WIN Our Back-to-School Giveaway for a chance to Win One of These Grade-A Prizes Compliments of Ellie Yung Real Estate & Coldwell Banker Realty!
$500 TARGET GIFT CARD | 6 Winners
$300 TARGET GIFT CARD | 6 Winners
$200 TARGET GIFT CARD | 15 Winner
GOOD LUCK!
Entry Dates: July 11-31 | Drawing Date: On or around August 1st
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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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Best Summer Treats in Irvine: Indulge in Deliciousness!
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Indulge in the best summer treats in Irvine! Join us as we explore the mouthwatering flavors of black sesame cookies and cream, green tea soft serve with cereal, and strawberry milk snow ice. Discover where to find these delicious treats and satisfy your cravings. Whether you're searching for unique desserts or refreshing summer delights, this video has it all. Get ready for a delectable journey through Irvine's culinary scene. Don't miss out on these must-try treats! Watch now and treat yourself to the ultimate summer food experience.
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Just celebrated my daughter's momentous 10th birthday on July 4th, with fireworks lighting up the sky just for her! I hope that everyone had a truly wonderful and memorable celebration on this special day of independence!
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