The median home value in Irvine, California, as of September 2021, was around $992,000, which represents a 14.6% increase from the previous year. The average price per square foot in Irvine was around $497, which is also an increase of around 14% from the previous year.
In terms of market trends, the Irvine housing market has been relatively stable in recent years, with moderate increases in home prices and a steady pace of sales. However, the COVID-19 pandemic has had an impact on the market, with some areas experiencing a slowdown in sales activity and a slight decrease in home prices.
Irvine remains desirable due to its high-quality schools, abundant parks and open spaces, and proximity to major employment centers such as Los Angeles and San Diego. However, the high cost of living in the area can be a barrier to homeownership for some buyers.