Irvine, CA Real Estate Market

With only 41 active listings and a market temperature rated hot, sellers are operating in a low-supply environment that supports strong asking prices. A median of 24 days on market suggests that correctly priced homes are attracting attention relatively quickly, giving sellers reason for measured confidence.

Buyers in 92606 should be prepared for a competitive environment, with a competition score of 79 and limited inventory of just 41 active single-family listings to choose from. Asking prices range from $625,000 for a 1-bedroom up to $2,190,000 for a 5-bedroom, so defining your bedroom needs early will help narrow your budget target.

The median asking rent in 92606 is $3,220 per month, with rental inventory considerably deeper at 441 units compared to just 41 for-sale listings. Rent scales meaningfully by unit size, from $2,425 for a studio up to $7,950 for a 6-bedroom, which investors should weigh carefully against the median asking price of $1,599,000 when modeling returns.

The 30-year fixed mortgage rate stands at 6.66% and the 15-year fixed at 5.98%, meaningfully affecting monthly payment calculations at Irvine's premium price points. Buyers financing at the median asking price of $1,599,000 should model both rate scenarios carefully, as the spread between the two terms can represent significant interest savings over the life of the loan.