If you own a home in Irvine, your investment last year was 50 percent higher than the rest of Orange County, on average.
Property values in Irvine were up 9.4 percent year over year. This is based on preliminary estimates by the assessor’s office for the period 2018-19 – more than in any other city in the district.
Real estate experts attribute Irvine’s schools, security, and parks – all top performers in the nation.
“A lot of people choose Irvine because it changes their lives,” says Peter Barshtak of Coldwell Banker Residential Brokerage. “You want a better lifestyle. Irvine is lush and green. The schools are wonderful and it is extremely safe. “
In the past 20 years, home values in Irvine have increased 73 percent more than the US average, according to Zillow statistics.
“Yes, it’s an incredible investment,” says homeowner Dave Link, “but we just love living here.”
He and his wife moved to Irvine in 1983 to raise a family.
“We immediately loved the area – the parks, schools, fishing, volleyball,” he says. “There is no place like this.”
One reason for the city’s success is ensuring the balance of the master plan across the city.
“Where other cities only have bags of great appeal, Irvine’s mix of houses, condos, apartments, schools and parks makes the entire city desirable,” said Greg Wakeham, a RE / MAX Premier Realty employee. “It’s so easy to live happily in Irvine.”
Overall, Orange County’s property values rose 6.2 percent in 2018-19.
That means a $ 500,000 home in Orange County last year would now be worth $ 531,150 – up from $ 547,150 in Irvine – a 51 percent advantage.
These increased home values generate significant tax revenues for the city to keep the police department, parks and open spaces as the best in the country.
“People want to live here because they want what we offer,” says the mayor of Irvine, Donald Wagner. “The country’s leading public safety, world-class public schools, energetic conservative financial management, an unparalleled parking system, robust employment opportunities and a renewed commitment to the master plan that protects our quality of life. ”
And why does he think Irvine’s real estate values outperformed the county by 51 percent?
“It shows the enduring strength of our Master-planned city,” he says.