This article was written by the Distressed Property team at eVantage Real Estate, who specialize in short sale and bank owned homes here in Irvine. This article will report the statistics for Active for Sale and Sold standard listing properties, as compared to Bank Owned foreclosure properties. Currently, there are 215 detached homes listed for sale in Irvine, California. The median price of these homes for sale is $969,000 and the average price per square foot is $434. Two of these active listings are Bank Owned REO's, which represent 1% of the total inventory of detached homes for sale. The median price of these bank foreclosure properties is $544,900 and the average price per square foot is $365.

For homes under contract, there are 156 detached homes in escrow on this date, and the median price is $678,888. Of this total, 10 are bank foreclosures in escrow, which is 6% of the total detached properties in escrow in Irvine, and the bank owned property median price in escrow is $579,900.

In the past 3 months, there have been a total of 149 detached homes that have sold and closed escrow in Irvine. The median price was $725,000 and the average price per square foot was $363. Of this total were 17 were Bank Owned properties in the city of Irvine in the past 3 months. This number of sold bank foreclosures is 11% of the total. The median price was $510,000, and the average price per square foot was $304.

If you would like to speak with a real estate professional, or see the inside of any Foreclosure property, feel free to call: (949) 388-3396, or email us at: Info@eVantageRE.com.