The prices in real estate in Irvine, in the California region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Irvine has had a strong decrease during the last 6 months. In February, the average price per sq.feet was $489. In March this price pretty much remained the same at a value of $480 per sq.feet. In the following two months the price per sq.feet has barely changed, going from $484.5 to $473.5 per sq.feet. The price per sq.feet has had a considerable deflation of 51 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $479 to $244.5 during June, and July.
Based upon to the price in Irvine (cities), this has fallen considerably in the last 6 months. In our first sample month during February, the average price is $1,332,498. In March This price remains at $1,267,048. In the following two months the average price has remained the same with regard to the previous two months from $1,299,773 to $1,330,592. During the last two months the average price has had a strong fall compared to the previous four going from $1,315,182.5 to $639,944.5, which means a 49 % fall.