Irvine Housing Blog

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A Closer Look at Irvine’s Woodbridge Housing Market Posted: 10 Oct 2012 05:47 AM PDT Last week I wrote about some new homes (The Branches) that will be built in Irvine’s well established Woodbridge neighborhood. To get a better idea how these “coming soon” Woodbridge homes compare with existing Woodbridge homes, today we will take a look at Irvine’s Woodbridge neighborhood. First, the numbers: Woodbridge—August 2012: Area List Price/ # Homes Listed Sold Price/ #Homes Sold Median List/SF Median Sold/SF % Chg Y-O-Y Sold Price/SF Houses $759K/11 $725K/6 $371 $368 -0.5% Condos $589K/23 $303K/24  $333  $303 4.8%  All Woodbridge   $678K/34   $475K/30   $352   $310   -3.1% All Irvine $736K/390 $536K/267 $362 $328 3.5% The following graphs show the change in the number of Woodbridge homes on the market (inventory), the price per square foot of Woodbridge houses, and the price per square foot of Woodbridge condos, respectively. To give more meaning to these numbers and graphs, I am listing some homes that are near the bottom, top, and middle of the price range for homes in the Woodbridge real estate market. 193 Briarwood (http://www.redfin.com/CA/Irvine/193-Briarwood-92604/unit-37/home/5506026) Note: This home is one of the least expensive homes in Woodbridge that is not “sale pending” or a manufactured home.   • Condo built in 1978 (one common wall and one carport space) • Beds/Baths: 3/1.25 (1135 sf) • HOA Dues: $372/month • Mello Roos Tax: No • Price: $355,000/$313 per square foot 35 Waterway (http://www.redfin.com/CA/Irvine/35-Waterway-92614/unit-1/home/5642920) Note: Although this is not the most expensive home in Woodbridge, it is one of the more expensive Woodbridge homes.   • Condo built in 1985 (one common wall) • Beds/Baths: 3/2.5 (2700 sf) • HOA Dues: $210/month and $82/month • Mello Roos Tax: No • Price: $975,900/$361 per square foot 89 West Yale Loop (http://www.redfin.com/CA/Irvine/89-W-Yale-Loop-92604/unit-6/home/5463973)   • Condo built in 1977 (one common wall) • Beds/Baths: 4/2.5 (2156 sf) • HOA Dues: $442/month. • Mello Roos Tax: No • Price: $649,900/$301 per square foot Source: Redfin

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