There is a saying in real estate that everything is local. This is especially true in California and especially true in Irvine, CA. There are plenty of Homes for Sale in Irvine, CA. Recently Irvine Home Value have gone up as well. Irvine does offer Luxury homes for your executive taste, single family homes to establish and town homes for the startups.
There are many different real estate hot spots around the country, but you would be hard pressed to find an area like this one. One of the biggest variables that differentiates Irvine from other areas is the cost of the average home. Few areas in the country are an expensive as Orange County, CA. With that high cost comes a lot of great benefits such as great weather, low crime, and great schools.
The home values in Irvine, CA are some of the highest in the country. The median home price is well over $500,000 and this area has more homes over $1,000,000 per capita than any other area in the country. When an area like this one has such high home values, there is a lot of room for fluctuation. After the recession in 2008, the home values in this area crashed harder than many other areas in the country.
The city of Irvine has a lot to offer home buyers. There is a huge mall called the Irvine Spectrum Center that everyone loves to go to. In addition, there the Orange County Great Park that is great for people with children. The Woodbridge community lakes in the Yale Loop area are beautiful sites for anyone to see, and for the right price a person can buy a home there. There are many single story homes in here, and is a hot spot for Baby Boomers retirement. This is one of the most expensive areas of Irvine, however.
Many people expect that the future values of property in Irvine will continue to increase. There are many signs that are pointing towards this right now such as few homes on the market compared to sellers, over bidding with multiple offers. In addition, over the past six months alone homes in Irvine have seen a nice appreciation in the value of their homes as the open inventory is drying up. Many people that bought homes at the bottom of the market have almost doubled the value of their investment. In an area that is so volatile like Irvine, CA it is important that buyers understand the nature of the real estate in the area and make their purchasing decisions based off of historical data. At the end of the day, all real estate is local and Irvine, CA is one of a kind.