Published September 30, 2026 in Market Update

El Camino Real Homes Still Sell for Full Price, But Only at the Right First Ask

By Jason & Susan Zwolak

Real estate, Irvine Market Update Clean 2

Back in early 2025, 61 homes sold on El Camino Real in the first half of the data period. The typical price was $1,386,650, and the typical home sold for its full last asking price. That part has not changed. What has changed is what it takes to get there.

The market still leans toward sellers, but price is where it splits

Right now there are 22 homes for sale on El Camino Real. At the pace of 6 sales a month, every one of them would be gone in 3.7 months. Under 4 months favors sellers. The national picture looks very different: NAR reported 4.9 months of supply across the country in August 2026, described as its highest level in over ten years.

So El Camino Real sellers still have an edge. But 59.1% of the homes listed right now have already dropped their price. The typical cut is $61,000. The biggest single cut is $262,000. The edge belongs to sellers who price correctly the first time, not to everyone who lists.

Then the market moved homes easily. Now it sorts them by price.

In the first half of the data, 61 homes sold. In the second half, 55 did. The typical sold price moved only slightly, from $1,386,650 to $1,395,000. On the surface those two halves look nearly the same. But underneath, the homes that could not sell tell a different story.

The homes that gave up were priced $318,545 higher, on average, than the homes that sold. The typical first price of a home that gave up was $1,718,444. The typical first price of a home that sold was $1,399,900. That gap is not a coincidence. It is a pattern.

Giving up is more common than most sellers expect. For every 10 homes that sold, 1.6 came off the market with no sale at all. Thirty-seven homes came off the market without selling. Fourteen of those came back and eventually found a buyer. Eighteen never did.

The higher you price, the harder it gets. Under $1M, 9.1% of homes gave up. In the $1M to $1.25M range, 11.1% gave up. At $1.25M to $1.5M, that figure dropped to 6.9%. Then it climbed again: 16.7% at $1.5M to $1.75M. At $1.75M and up, 23.3% of homes came off the market with no sale. That is not a small risk.

The typical home in every price range sold for its full last asking price. But "last asking price" is not the same as "first asking price." The typical Irvine home sold for 98.2% of what it first asked. That 1.8% gap is where the price cuts live.

Size matters in a specific way, too. Homes between 2,500 and 3,500 square feet sold for 95.5% of their first price, and 7 of them gave up entirely. Smaller homes, under 1,500 square feet, sold for 98.9% of their first price with only 4 giving up. Bigger is not always easier to sell. And the 13 homes currently listed with a price cut have together given up $1,200,589 from their first asks, a total that shows how much money a wrong first price can cost before a home ever closes.

What this means for you right now

If you are selling, the data says one thing clearly: your first price is the most important decision you make. Homes that sold got 98.2% of their first price. Homes that gave up started at $318,545 more than the ones that sold. Of the 22 homes for sale right now, 59.1% have already dropped their price by a typical $61,000, and they are still waiting. The 30-year fixed mortgage averaged 7.03% as of September 24, 2026, up from 6.30% a year ago (Freddie Mac). Buyers are watching their monthly payment closely. A price that looks a little high will sit.

If you are buying, the 3.7 months of supply means you are not in a wide-open market. The typical home still sold for its full last asking price. That said, 59.1% of active listings have already dropped their price by a typical $61,000. If a home has been sitting and has already cut, there may be room to negotiate. If it is fresh and priced well, expect competition.