Irvine Market Update - November🏡

MASTERING THE MARKET

We’ve entered the Holiday Market season—a time when the real estate market typically slows down as people focus on holiday celebrations. If you're considering buying or selling in 2025, now is the perfect time to start planning. Preparing and strategizing today can set the stage for success in next year's evolving market.

ATTENTION BUYERS! Inventory levels are expected to keep declining through the end of the year. In the past two weeks alone, active listings in Orange County dropped by 3%. This seasonal dip presents a prime opportunity for serious buyers, offering less competition, more motivated sellers, and a chance to secure a home before inventory reaches its annual low. Acting now can help you avoid the intense competition and rising prices that typically come with the Spring market!

ATTENTION SELLERS! Demand has decreased by 7% in recent weeks, driven by rising mortgage rates and the seasonal holiday slowdown. However, with current mortgage rates dipping slightly below 7%, there’s a brief window to attract serious buyers before the market cools further. Listing your home now allows you to stand out in a market with shrinking competition, increasing your chances of a successful sale before year-end.

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

August 2024 - November 2024 (4-Month Look Back)

October 2023 - October 2024 (12-Month Look Back)

Market Action Index (MAI)
Comparison rate of sales versus inventory

While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.

166 Borrego - Offered At $1,380,000
3 Bedroom | 2.5 Bath | 1,810 SqFt Living | 2,000 Sq Ft Lot Size
Open House Sun (11/24) from 1-4PM
Buyer Agent Commission: 2%*

Gorgeous condo in the beautiful Agave community of Portola Springs! Built in 2013, this spacious end unit features the largest floorplan, offering 3 bedrooms, 2.5 baths, an open layout, and two inviting outdoor courtyards. Enjoy a prime location with open views, abundant natural light, and privacy. Enter through the formal foyer into a bright great room with high ceilings, custom media built-ins, recessed lighting, and luxury vinyl flooring. Sliding doors seamlessly connect the great room to the dual courtyards, perfect for indoor/outdoor entertaining. The gourmet kitchen boasts upgraded quartz countertops, white shaker cabinets, a large island, stainless steel appliances, and a walk-in pantry, along with a convenient main floor powder room. Upstairs, discover three spacious bedrooms, including a luxurious master suite featuring dual vanities, a soaking tub, and his and hers walk-in closets. The separate laundry room and a 2-car garage with an EV charging station add to the convenience. Zoned for award-winning Irvine Unified schools and just a short walk from amenities, this condo is a rare gem at an unbeatable price!

* Buyer’s Brokerage Compensation is not binding unless confirmed by a separate agreement among the applicable parties.

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From my family to yours, wishing you a season filled with love, joy, and gratitude. May your day be as special as the memories you create. Happy Thanksgiving!