Posted: 14 Jan 2013 04:00 AM PST
Inventory: 214 homes.
Two hundred seems to be the new normal for the Truman World. We go up a few properties, down a few properties, but for the past two months, we have been around that number. Realtors are talking about multiple offers, listings flying off the shelves, and very soon they will say “Buy now or you will be priced out forever” without even feeling guilty about it. Average list prices are trending higher with each passing month, and as of now we are entering a seller’s market. But before we declare a mini bubble in Irvine due to low inventory, let’s see if inventory is really as low as the numbers we see. I am not talking shadow inventory from the foreclosures. New homes. Last week, I came across an article on OC Register about new home sales by The Irvine Company. According to the article, 1346 new homes were sold in 2012. That’s right, more than a thousand homes. 774 homes were sold in 2011.
1346 New Homes + 600 Regular Sales = Around 1946 homes were on the market in January, 2012.
This is one of the elite airport area condominiums built last year. It comes with concierge service.
Monthly Mortgage: $2638
This is not the only property on the market in this tract. Here is the list of other listed properties:
Does that feel like an influx of inventory in the airport area?
Comment below, or share your thoughts at Talk Irvine.
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