Irvine, CA 92602 Real Estate Market Report
ZIP Code: 92602
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.
Property Taxes
Liquidity & Velocity
Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.
Market Trends & Context
Understanding Market Temperature
A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.
Key Findings
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The primary market indicator—median sold price—is 2,794,500, which establishes recent transaction-level value and suggests continued premium pricing relative to many regional comparables (hot market context).
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There is a substantial spread between the median listing price (3,544,000) and the median sold price (2,794,500), which may indicate seller pricing optimism and pricing friction that could prolong negotiations or concessions in some transactions.
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Liquidity appears slower on a time-to-sale basis: the median days on market (274) points to extended listing durations, which, combined with the market temperature being hot, suggests transactions are occurring at higher prices but with measured velocity rather than rapid churn.
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Market fundamentals show strength: median price per square foot (986) and median market rent (3,180) are consistent with an appreciating price environment, supported by up year-over-year price and rent trends, while interest rate pressure is moderate, suggesting near-term financing costs may temper but not halt demand.
Notable Properties
The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold at market average
Sold below market average
Irvine, CA 92602 Real Estate Market Report
ZIP Code: 92602
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.
Property Taxes
Liquidity & Velocity
Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.
Market Trends & Context
Understanding Market Temperature
A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.
Key Findings
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The primary market value signal is the $1,360,000 median sold price, which indicates recent transaction-level pricing and anchors valuation expectations in ZIP 92602; hot market conditions and an upward price trend support sellers but the gap between asking and sold prices suggests pricing friction may persist.
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Listing context shows a $2,024,000 median listing price, which, when compared qualitatively to the median sold price, may indicate seller ambition above observed transaction levels and could lengthen time-to-contract under current conditions; moderate pricing friction may be present.
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Liquidity signals point to slower sales velocity as reflected in the 234 median days on market, which appears long relative to a 'hot' market label and suggests that while demand and prices are rising, transactions are taking longer to close; moderate interest rate pressure may be contributing to this dynamic.
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Market fundamentals show strength in both sales and rental demand: the price year-over-year trend is up and the median market rent is $5,100, with rent year-over-year trend up, supporting investment fundamentals even as inventory appears relatively constrained; rising rents and prices strengthen the case for hold strategies where cashflow and appreciation align.
Notable Properties
The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold at market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold at market average
Sold below market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.5% rate, 0.8% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 5/1/2026
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