Irvine, CA 92602 Real Estate Market Report

ZIP Code: 92602
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of April 2026, the housing market in Irvine, CA is characterized by a median sold price of $2,880,000, reflecting a robust demand amidst a backdrop of moderate price appreciation. The neighborhood has increased 15% since 2023, indicating a positive trend in market value. This growth is supported by a strong local economy, although the market is currently experiencing elevated inventory levels, which suggests a more balanced environment with slight seller advantages due to increased supply relative to sales activity.

Transaction activity shows a median days on market of 291, indicating slower sales velocity. This extended time frame may suggest pricing friction as buyers take longer to make purchasing decisions. The median listing price stands at $3,344,000, which creates a notable gap compared to the sold price, reflecting seller expectations that may not fully align with current market realities. Overall, the market temperature is neutral, indicating a balanced state where both buyers and sellers are navigating the current conditions cautiously.

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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.

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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.

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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.

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Property Taxes

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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.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Irvine, CA are averaging 6.38%, which is 0.15% higher than the 6.23% average from March 2025.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price of $2,880,000 suggests strong demand despite elevated inventory levels.

2. With a median days on market of 291, the market is experiencing slower sales velocity, indicating potential pricing friction.

3. The median listing price of $3,344,000 reflects seller expectations that may not align with the current buyer sentiment, creating a notable pricing gap.

4. The market temperature is neutral, suggesting a balanced environment where both buyers and sellers are adjusting to current conditions.

5. Elevated interest rate pressure is impacting buyer behavior, contributing to the current market dynamics.

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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.