Irvine is the largest city and a master-planned city in central Orange County, California, United States, in the Los Angeles metropolitan area. The city is known for its high standard of living, diverse economy, and excellent educational institutions1. Irvine seamlessly blends urban living with access to nature, making it a desirable place to call home.
Irvine has also incorporated farming, with crops that include barley, lima beans, olives, asparagus, strawberries, and oranges. Today, it’s a vibrant city that’s home to several distinct neighborhoods, each offering a unique lifestyle.
Irvine Housing Market Trends
The Irvine housing market is highly competitive, with homes selling quickly and often above the asking price. As of March 2024, the median sale price of a home in Irvine was $1.6M, up 15.6% since last year. The median sale price per square foot in Irvine is $828, up 21.6% since 2023. These trends indicate a strong demand for homes for sale in Irvine.
Homes in Irvine receive 7 offers on average and sell in around 25 days. There were 203 homes sold in March 2024, up from 174 last year. The sale-to-list price ratio stands at 102.1%, marking a 3.5 percentage point increase year-over-year. Additionally, 51.9% of homes are sold above the list price, showcasing a significant 28.4 percentage point surge compared to 2023.
These trends suggest that the current housing market in Irvine predominantly favors sellers. However, with proper preparation and guidance from real estate professionals, buyers can still find opportunities in Irvine’s vibrant market.
Neighborhoods and Communities within Irvine
Irvine is known for its diverse range of neighborhoods and communities, each offering its own unique atmosphere, amenities, and housing options. Let’s take a glimpse into some of the notable neighborhoods and communities within Irvine:
- Woodbridge: Woodbridge is one of Irvine’s oldest and most established communities, known for its scenic lakes, parks, and tree-lined streets. Residents enjoy access to a range of amenities, including two artificial lakes with beach clubs, swimming pools, tennis courts, and walking trails. The neighborhood features a mix of single-family homes, townhouses, and condominiums in various architectural styles.
- Northwood: Northwood is a family-friendly neighborhood characterized by its spacious homes, well-maintained parks, and top-rated schools. The area boasts a suburban feel with tree-lined streets and ample green space. Residents have access to community parks, sports facilities, and shopping centers, making it an ideal place for families looking for a peaceful yet convenient lifestyle.
- University Park: As the name suggests, University Park is located near the University of California, Irvine campus, making it a popular choice for students, faculty, and staff. The neighborhood offers a mix of single-family homes, townhouses, and apartments, as well as recreational amenities such as parks, playgrounds, and walking trails. University Park is also known for its proximity to shopping centers, restaurants, and entertainment venues.
- Quail Hill: Quail Hill is a master-planned community nestled against the hillsides of Irvine, offering picturesque views and a serene atmosphere. The neighborhood features a variety of housing options, including single-family homes, townhouses, and luxury estates. Residents enjoy access to resort-style amenities such as swimming pools, spas, fitness centers, and hiking trails. Quail Hill is also known for its award-winning schools and close-knit community vibe.
- Portola Springs: Portola Springs is a newer master-planned community situated in the foothills of the Santa Ana Mountains, offering a blend of natural beauty and modern amenities. The neighborhood features a mix of single-family homes, townhouses, and condominiums designed with contemporary architectural styles. Residents have access to community parks, pools, sports courts, and walking trails, as well as top-rated schools and convenient shopping centers.
These are just a few examples of the diverse neighborhoods and communities within Irvine, each offering its own distinct lifestyle and amenities. Whether you’re looking for a family-friendly environment, a suburban oasis, or a vibrant urban setting, Irvine has something to offer for everyone.
Types of Homes and Condos
Whether you’re looking for a spacious single-family home or a modern high-rise condo, Irvine has a variety of housing options to suit your needs. Single-family homes in Irvine often feature large yards and spacious interiors, while condos offer a low-maintenance lifestyle with access to shared amenities34. The architectural styles range from modern to traditional, with prices varying based on location, size, and features.
Amenities and Services
Living in Irvine comes with access to a wealth of amenities and services. Many neighborhoods feature community pools, fitness centers, and walking trails5. Additionally, the city’s commitment to safety and security makes it a peaceful place to call home.
