Irvine median home price drops further in July
August 20th, 2008, 10:11 am · Post a Comment · posted by Brian Martinez
For the month of July, the median price for all types of Irvine homes was $606,654. That’s 16.5 percent lower than the $726,561 median in the same period last year. It’s also lower than the June 2008 median of $637,049.
A total of 204 Irvine homes were sold in July. That’s down 12 percent from the 233 homes sold in July of last year.
Countywide, the medium for July was $461,000 - down 28 percent from the same period in 2007. Sales are up 17.1 percent countywide.
Below is a ZIP-by-ZIP breakdown of the numbers for Irvine.
| ZIP code | Median | Year ago | Change | Sales | Year ago | Change |
|---|---|---|---|---|---|---|
| 92602 | $650,000 | $719,823 | -9.7% | 24 | 22 | 9.1% |
| 92603 | $726,000 | $855,124 | -15.1% | 39 | 40 | -2.5% |
| 92604 | $567,500 | $637,640 | -11.0% | 21 | 21 | 0.0% |
| 92606 | $721,000 | $725,352 | -0.6% | 13 | 21 | -38.1% |
| 92612 | $475,000 | $755,167 | -37.1% | 31 | 44 | -29.5% |
| 92614 | $561,000 | $503,139 | 11.5% | 12 | 10 | 20.0% |
| 92618 | $460,000 | $589,744 | -22.0% | 20 | 22 | -9.1% |
| 92620 | $634,000 | $743,259 | -14.7% | 44 | 53 | -17.0% |
| Citywide | $606,654 | $726,561 | -16.5% | 204 | 233 | -12% |
| O.C. | $461,000 | $640,278 | -28.0% | 2,799 | 2,390 | 17.1% |
Core data provided by DataQuick. The citywide medians listed are weighted average medians derived from ZIP code totals. The median is where half the homes sold for more and half for less. Types of homes selling, as well as home value changes, cause the median to change.
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