Irvine Market Update - January 🏡

HIGH DEMAND AMIDST LOW INVENTORY! As of January 2025, Irvine's housing market is experiencing robust activity, with homes selling quickly and attracting multiple offers. The median sale price has risen to $1.5 million, a 10.5% increase from the previous year, indicating strong buyer interest!

ATTENTION BUYERS! Right now, there are only 350 homes available for purchase across all price points in Irvine, making it a highly competitive market with limited options. Don't wait for interest rates to drop—prices are expected to rise, and the opportunity to secure your home at a reasonable price is now. The time to buy was yesterday, but it's still not too late to act quickly!

ATTENTION SELLERS! With only 350 homes available in Irvine, there’s minimal competition and strong demand, with open houses attracting plenty of attention and multiple offers. It’s a seller’s market with low inventory, making now through Spring the hottest time of the year to sell. The market will begin to cool in the Summer as many head off for vacation. Don’t wait—list your home today!

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

October 2024 - January 2025 (4-Month Look Back)

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

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

The market has started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

166 Borrego - Offered At $1,380,000
3 Bedroom | 2.5 Bath | 1,810 SqFt Living
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!

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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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Had an awesome trip to Taiwan, Hong Kong, and Korea! There was so much amazing food and shopping. We had a blast! From my family to yours, Happy 2025! Wishing you and your loved ones health, happiness, and prosperity in the year ahead.