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NO CRASH IN SIGHT! Despite concerns, housing values are holding steady even during the holiday market slowdown. Limited inventory and over a decade of tight lending standards continue to protect home values from a repeat of the Great Recession. As a result, home values are expected to rise further in 2025.
ATTENTION BUYERS! With inventory dropping by 9% in just two weeks due to the holiday season, you have two options: act now to buy with less competition and take advantage of motivated sellers still on the market, or prepare for 2025 by getting your financials and pre-approvals in order, ensuring you're ready to compete when inventory rises and the market picks back up in January.
ATTENTION SELLERS! With demand dipping slightly by 4% due to the holiday market, if your home isn’t already listed, now is the perfect time to prepare and strategize for January 2025. Complete any last-minute repairs, touch up the paint, and enhance your curb appeal. Pre-marketing starts now to ensure a strong debut when the market gains momentum in January.
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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September 2024 - December 2024 (4-Month Look Back)
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November 2023 - November 2024 (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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166 Borrego - Offered At $1,380,000
3 Bedroom | 2.5 Bath | 1,810 SqFt Living
Buyer Agent Commission: 2%*
Back On Market - Jan 6, 2025
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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!
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81 Modesto - Offered At $1,380,000
3 Bedroom | 2.5 Bath | 1,499 SqFt Living
Buyer Agent Commission: 2%*
On Market - January 8, 2025
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Located in the prestigious 24-hour GUARD-GATED community of San Simeon in Northpark, this stunning DETACHED CONDO sits on a PREMIUM CORNER LOT with only one neighbor and serene greenbelt views. The bright Great Room features travertine flooring, plantation shutters, and large windows, while the adjacent Formal Dining Room boasts recessed lighting and crown molding. The Gourmet Kitchen features Quartz countertops, a mosaic tile backsplash, shaker cabinets, and stainless steel appliances. Upstairs, enjoy luxury vinyl flooring, a spa-like Primary Suite with dual vanities and a walk-in closet, plus two additional bedrooms sharing an upgraded bath. The PRIVATE BACKYARD offers stone pavers, mature trees, and space for entertaining. Complete with a two-car attached garage, this home is a hidden gem you don’t want to miss!
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2498 McCoy - Offered At $1,600,000
3 Bedroom | 2.5 Bath | 1,680 SqFt Living | 5,250 Sq Ft Lot Size
Buyer Agent Commission: 2%*
On Market - January 9, 2025
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Rarely available! Stunning highly upgraded home with MAIN FLOOR PRIMARY SUITE in the sought after 24-hr Guard-Gated community of Township in Tustin Ranch. Owners spared no expense pouring in over 500K in prime UPGRADES and landscaping! Premium OVERSIZED CORNER LOT at the end of Cul-De-Sac for ultimate privacy. Recently remodeled Gorgeous CHEF'S KITCHEN will take your breath away, featuring white shaker wood cabinets, Quartz countertops, 6-burner Thermador range with double ovens, lustrous white tile backsplash, Thermador dishwasher, dual Sub-Zero refrigerators, drawer microwave, Thermador full-size wine fridge, and an oversized waterfall kitchen island. The open kitchen overlooks the Gorgeous Great Room which boasts stunning shiplap, custom built-in media cabinets, a cozy fireplace and direct access to your private backyard oasis. Step outside to discover the OVERSIZED BACKYARD, recently landscaped with AstroTurf, custom-built BBQ, and stone pavers, providing ample space for both leisure and entertainment. NO MELLO ROOS! This model-like home is a rare opportunity at this price!
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* Buyer’s Brokerage Compensation is not binding unless confirmed by a separate agreement among the applicable parties.
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Orchard Hills Summit Update: Irvine's Most Anticipated Homes!
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Exciting progress at Orchard Hills Village IV, aka “The Summit!” This new luxury community in Irvine is shaping up beautifully with guard-gated entrances, landscaped streets, and breathtaking terraced lots. Homes range from 2,100–4,300 sq. ft., offering everything from starter homes to ultra-luxurious estates with detached casitas.
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Grateful for a Remarkable 2024: $50M+ in Sales Thanks to You!
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What an incredible year it’s been! With over $50M+ in sales in 2024, I’m deeply thankful to all of my wonderful clients for trusting me with one of the most important decisions of your life. Your confidence means the world to me, and I am truly honored to have been a part of your journey. With heartfelt appreciation, Ellie Yung.
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From my family to yours, wishing you a holiday season filled with warmth, delight, and treasured memories. May your Christmas glow with happiness and your New Year bring boundless opportunities. Here's to a season of peace and joy!
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