Irvine Market Update - June 🏡

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Summer Housing Market: As school ends and families head off for summer vacations, the housing market shifts into summer mode where inventory begins to climb while demand gradually eases. Over the past two weeks, demand has dipped by 1%. We expect demand to mirror last year's trends until mortgage rates fall below 7%. ATTENTION BUYERS! The active inventory climbed by 6% in the past couple of weeks. Inventory will continue to rise until it peaks between July and August. This accumulation of homes is a welcome relief for buyers looking for a fresh supply. If you're thinking about buying a home, now is an opportune time. With a slower market pace, you have more time to find the perfect property. Contact me today to start your home search! ATTENTION SELLERS! Price is the most critical first impression of a home. In the first ten days, savvy buyers size up the scene. Some step inside; others decide a virtual peek suffices. The longer a home lingers, the less buzz it generates. Even price cuts later don't spark the same excitement. Today, 27% of listings have slashed prices—a sign waiting won't win. Ready to seize the market? Contact me now to unlock your property's full potential!   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 March 2024 - June 2024 (4-Month Look Back) May 2023 - May 2024 (12-Month Look Back) Market Action Index (MAI) Comparison rate of sales versus inventory 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.  12712 Charmaine Lane - Offered At $1,599,000 5 Bedroom | 2.5 Bath | 2,246 SqFt Living | 8,800 Sq Ft Lot Size Nestled on a gorgeous tree-lined in the highly sought after neighborhood of Panorama Heights in North Tustin, this Stunning Turn-Key Home offers a serene retreat. The charming curb appeal is accentuated by a custom paver driveway and walkway, complemented by stunning stone accents, setting the stage for a welcoming entrance. Boasting 5 bedrooms, including a main floor retreat, and 2 baths, this residence exudes comfort and style. As you enter the home, you will love the inviting open floorplan featuring vinyl luxury flooring throughout, crown molding, recessed lighting, and lots of natural light. Stunning Chef-inspired kitchen features white shaker cabinets, quartz countertops, stainless steel appliances, and lots of counter space and storage. The open kitchen overlooks the spacious Dining Room, Family Room, and Living Room, creating a seamless flow for entertaining.. No HOA and No Mello Roos! Located within walking distance to El Modena Park and minutes to shopping, Peters Canyon Park, and hiking trails.This home is a rare opportunity at this price! VIEW MORE To obtain a complimentary instant home valuation and quick peek at the market activity near your home, please click the button below. Check My Home Value There will be a new video each week so be sure to subscribe! Click to Subscribe Market Update | Home Value Keep Rising! In this "Market Update" video, I explain why home prices continue to appreciate despite mortgage rates hovering around 6-7%. Discover how inventory shortages and a surge in cash buyers are driving prices up, making it a seller's market. If you're considering selling your home, now is the perfect time to act. How To Spend A Perfect Spring Family Day in Irvine: A Complete Guide Want to make the most of a sunny spring day in Irvine? We've got the perfect itinerary for you! Kick off your day with an invigorating hike, followed by a relaxing picnic in a beautiful park where the kids can play and enjoy fun rides. Recharge with a unique coffee experience and treat your taste buds to some amazing ice cream. Wind down with a leisurely book, browse and cap off the day with a mouthwatering dinner at a local favorite. From outdoor activities to delightful dining, this video has everything you need for a memorable day! Whether you're a local or just visiting, these activities are sure to make your day unforgettable We enjoyed a much-needed vacation to Hawaii!  We had a great time and ate so much good food!  Until next time... Aloha!   Follow our Facebook Business Page to stay informed on future events! Forward to a Friend Copyright © 2019 Ellie Yung Real Estate, All rights reserved. Want to change how you receive these emails? You can update your preferences or unsubscribe from this list. View this email in your browser