Get Ready for the Hot Season! (Summer) Market Update - Irvine, CA. Jan 14'-Present

***ALL CHARTS ARE GENERATED DIRECTLY FROM THE CRMLS***

First off, let's take a look at the number of Active Lisings in Irvine, CA since January 2014.

From the chart above, we can see that the number of active listings has increased during the Summer of last year and fallen in the Winter/beginning of this year. A couple of the reasons for this trend is School. During the school year, Fall to Winter, many families are more worried about taxes and financial burdens. However, after the school year is over, Summer provides a couple months for them to relocate, since many students graduate from High School (parents look for a cheaper area to move to since the school district is not as important anymore). Also, during the summer, landlords increase rent, causing many tenants to find better areas/cheap rents. Therefore, its almost Summer! Sales will be high! Are you ready to list or buy?!

Now, we are looking at the Average number of Days to Sell a home in Irvine, CA since January 2014. During the late Spring and early Summer, homes usually take around 60-70 days to sell. As the Fall comes around, homes get harder and harder to sell. However, look at the drop at the beginning of the year now, homes are selling fast! The trend shows that it should stay this way until the end of Summer.

Lastly, lets look at the number of homes sold in Irvine over the past year. The number has increased again during the summer and dropped back down in the start of 2015. I am confident that the number of sales keep increasing as we reach the summer, which means that there will be more and more homes on the market. For seller, competition for buyers might be high since there's a lot more options in homes. For buyer's, the market will be flourishing so good luck!

Please expect other market updates for major cities in Southern California. If you would like to request that I do a specific city, don't hesitate to contact me!

Thank you!