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INCREASE IN INVENTORY: Despite ongoing inventory constraints, there are 18% more sellers than last year. While the inventory has yet to return to pre-pandemic levels, the recent uptick in homes entering the market offers hope for prospective buyers and sellers alike. Finally, there are more choices!
ATTENTION BUYERS! Recent data indicates a 6% increase in housing inventory in the past couple weeks. With the surge in inventory, now is the time to explore the market and seize the opportunity. Don't miss out on this chance to find your dream home in this competitive market!
ATTENTION SELLERS! Demand has surged by an additional 3% in recent weeks, further fueling the sizzling market. Irvine's housing supply remains down 35% from pre-COVID levels, leaving just 199 homes available across all price ranges in Irvine. It's essential to price competitively to attract eager buyers. With demand typically peaking in May and June, there's no better time to make your move and sell!
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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February 2024 - May 2024 (4-Month Look Back)
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April 2023 - April 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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Northpark, Irvine - Offered At $2,400,000
3 Bedroom + Loft | 3 Bath | 2,470 SqFt Living | 4,445 Sq Ft Lot Size
On Market - Mid-July 2024
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Indulge in luxury living within the prestigious gated community of Northpark. This meticulously upgraded 3-bedroom plus loft (which can easily convert to a 4th bedroom) boasts stunning wood-tile flooring, abundant custom built-ins, an upgraded Chef's kitchen, a separate home office, and much more! Situated on a premium corner lot backing onto a lush greenbelt, enjoy unparalleled privacy and scenic views. Embrace seamless indoor/outdoor living with upgraded stacked glass doors leading to the breathtaking backyard oasis featuring a pool, spa, firepit, and built-in BBQ. Don't miss out on this rare gem!
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Northpark Square, Irvine - Offered At $3,200,000
4 Bedroom | 3 Bath | 3,703 SqFt Living | 5,940 Sq Ft Lot Size
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Tucked away in the gated Bella Rosa community within Northpark Square, this home offers a blend of sophistication and comfort. A grand entrance leads to an open floorplan with high ceilings, travertine tile flooring, and ample natural light. The main level features a convenient downstairs master suite with a luxurious spa-like bath and two guest bedrooms with a shared bath. Upstairs, a spacious loft and another bedroom with an en suite bath await. Don't miss this rare off-market opportunity! Contact us today for a private showing.
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Enter now for a chance to WIN our "Night at the Movies" Giveaway! Don't miss out on the chance to win one of these amazing Grand Prizes, courtesy of Ellie Yung Real Estate & Coldwell Banker Realty.
$250 FANDANGO GIFT CARD | 10 Winners
$150 FANDANGO GIFT CARD | 10 Winners
$100 FANDANGO GIFT CARD | 30 Winners
Entry Dates will be from May 14-31! The winner will be chosen on or around June 3rd.
GOOD LUCK!
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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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There will be a new video each week so be sure to subscribe!
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Why Spring Is The Best Time To Sell
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Unlock the secrets of why spring is the ultimate season to sell homes in our latest video! As temperatures rise, so does the housing market, and we're here to unveil the top 5 reasons why spring is the perfect time to list your home. From the allure of improved weather-enhancing curb appeal to factors like school year closures and tax refunds, spring attracts a wave of motivated buyers ready to make a move. Don't miss out on this prime selling opportunity! Tune in now to discover how you can leverage the spring market frenzy and maximize your home's value.
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Revamped Rules For Landlords: What You Need To Know
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Revamped Rules For Landlords: What You Need To Know - Attention landlords! Big changes are on the horizon with new rent control laws set to take effect in July 2024. In this video, I'll be breaking down the latest update, particularly focusing on the game-changing AB12 law, which significantly impacts security deposits. Starting July 1, 2024, landlords will only be able to charge a maximum of one month's rent for security deposits, compared to the previous allowance of up to three times the rent.
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We hope everyone had a wonderful Mother's Day celebration filled with joy, laughter, and cherished memories!
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