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Real Estate Irvine California - Real Estate in Irvine, California

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Located in Orange County, California, the 69.7 square inch piece of land known as Irvine is bordered by beautiful trees, hills, and mountains that set the city of Irvine apart as one of the most beautiful in the state of California. As Irvine has been termed a “planned city,” there has been a great influx of people into this particular area of the country lately, as jobs have become more plentiful and real estate has become increasingly valuable. With just over 200,000 people, Irvine has grown by leaps and bounds over the past decade, but it still offers plenty of open residential land on which a home would be optimal.

As Irvine is home to the University of California-Irvine, there are an abundance of college-aged young people that are located in the area. However, the statistics show that some of these individuals do indeed stay within the confines of the city limits, which is one reason why the 1,100 people/square mile population density remains as high as it does.

The median price of a for-sale house in Irvine has been estimated to be just over $425,000 with the median payment for a renter of an apartment/condo being a little over $1,700. The recent downturn in the United States housing market has caused the average selling price of a home in California to fall from its 2005 all-time of right around $800,000 to its current level, which is just above $600,000. One positive aspect for Irvine, however, is the fact that home sales have begun to increase once again within the city itself.

As the city was not incorporated until the 1960s, most of the homes that you will find in the Irvine area were built sometime between 1960 and 1980. These homes will normally contain three bedrooms and two bathrooms, while the rental properties that are available usually boast two bedrooms and one bathroom. One interesting note on Irvine is that well over half of all renters paid $1,500 or more for the monthly rental property.

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