Some highlights and facts from Irvine’s 2011 year in real estate.
- While the number of sales is relatively consistent with last year, the median price in Irvine has declined.
- The median price in Irvine decreased 7.77 percent
- The median price is now $519,000.
- Standard sales represented the bulk of the transactions at 66 percent (70% in 2010)
- Short sales accounted for 23 percent (22% in 2010)
- Foreclosed properties were 11 percent (8% in 2010)
- The highest closed sale this year in Irvine was a 14,000-square-foot home in Shady Canyon, which closed in October for $8,888,888.
- The lowest priced property that sold this year was a foreclosed property with a total of 475 square feet, which sold in April for $110,000.
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