4-week rolling average · Data through August 28, 2026 · ZIP 92602
The Lower Peters Canyon market in Irvine, CA carries a median asking price of $3,380,000 for single-family homes as of late August 2026, with a price per square foot of $1,020.42. With 161 active listings and a median of 33 days on market, the market is moving at a measured pace while still registering a warm temperature and a competition score of 71 out of 100. These indicators together suggest sustained buyer interest without the urgency seen in hotter markets.
| Beds | Sale Price | Rent |
|---|---|---|
| 1BR | $685K | $3K/mo |
| 2BR | $1.03M | $3K/mo |
| 3BR | $1.70M | $5K/mo |
| 4BR | $2.95M | $7K/mo |
| 5BR | $5.63M | $7K/mo |
| 6BR | $4.51M | — |
| 7BR | $6.58M | — |
Sellers are listing into a warm market with a competition score of 71, which reflects meaningful buyer activity across 161 active listings. At a median of 33 days on market, pricing strategically from the outset is important since homes are not moving instantly but are finding traction within a reasonable window.
Buyers in this ZIP code face a median asking price of $3,380,000 for single-family homes, with three-bedroom options listed at $1,699,000 and four-bedroom homes at $2,950,000, offering a range of entry points depending on needs. With 33 median days on market, there is some time to conduct due diligence, though the warm market temperature and competition score of 71 suggest staying prepared to act decisively.
The median asking rent of $3,225 against a robust rental inventory of 461 units signals an active rental market in Lower Peters Canyon, with four and five-bedroom rentals both listed at $7,000 per month. Investors evaluating yield should weigh these rental figures carefully against the high asking prices, particularly given that a 30-year mortgage at 6.66% on a $3,380,000 home carries substantial carrying costs.
The current 30-year fixed mortgage rate of 6.66% and 15-year rate of 5.98% meaningfully affect monthly payment calculations on the high asking prices seen in this market. Buyers who qualify for the 15-year term could reduce their interest cost over time, though the higher monthly payments on a shorter loan against these price points require careful financial planning.
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Market intelligence by FarmPosts