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 May, the average price per sq.feet was $468. In June this price pretty much remained the same at a value of $489 per sq.feet. In the following two months the price per sq.feet has barely changed, going from $478.5 to $475.5 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 $477 to $241 during September, and October.
Based upon to the price in Irvine (cities), this has fallen considerably in the last 6 months. The average price for May is $1,363,657. During June the price had a slight fall till $1,279,889. In the following two months the average price has remained the same with regard to the previous two months from $1,321,773 to $1,319,529. During the last two months the average price has had a strong fall compared to the previous four going from $1,320,651 to $663,754, which means a 50 % fall.