Irvine - Week of September 8th, 2014
Single Family Homes
This WeekThe median list price in IRVINE, CA this week is $1,039,000. The 437 properties have been on the market for an average of 92 days.The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market. Supply and DemandThe market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we're in a Seller's Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer's zone, watch for downward pressure. |  |
Median Price
Despite this week's up tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.
Inventory of Properties Listed for Sale
Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.
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