real estate investing

Monday, August 15, 2005

Median Price of Irvine Homes tops $785,000 !

Rising demand and low inventory puts pressure on home prices...The second quarter (April, May, June) od 2005 for closed real estate sales of detached homes in Irvine topped $785,000 for the first time ever. This price advance was caused by the strong  demand housing and low inventory of homes for sale.  The high demand is primarily to the low unemployment in Orange County, low interest rates, and a renewed interest in all things south OC.Likewise, the median price for attached townhomes and condos sold in Irvine for the 2nd quarter of this year reached $539,000.  Also, sales volume was up to 971 homes sold for the Quarter, as compared to same Quarter of last year in which 764 homes were sold in Irvine.The popularity of Irvine has been increasing with homebuyers over the recent years with the addition of the Irvine Spectrum, and new home tracts and communities such as Watermarke Condos, Quail Hill condos and detached homes, Monterey in Northpark, Barrington homes in West Irvine and many more.  The 2000 US census states that the population of Irvine was 143,072 and it is estimated that the current population is approximately 150,000.For a list of all homes listed for sale in Irvine, visit our website below.  Here you can also register for an email alert service which will email you homes that have been just listed for sale.See AlsoIrvine Real EstateMLS Home Search, Prices, Photos and more. more...

www.veryoldbird.com/realestateinvesting
Originally Posted on 8/15/2005 11:27:45 AMContent source: http://ocrealestateblog.com/public/item/94763

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