New Construction vs Resale

New Construction vs Resale Homes in Irvine: What Buyers Actually Pay

Updated November 3, 2026

By Vinura Abeysundara

Head of Growth at TurboHome

Reviewed by:

Vinura Abeysundara

Head of Growth at TurboHome

Kevin Kretzmer

Head Agent, California · CalDRE #01997822

New construction homes in Irvine closed at a median $743/sq ft over the past 12 months, 6.7% less than the $796/sq ft median for resale homes. The median new build sold for $1,764,000 and measured 2,410 square feet; the median resale sold for $1,470,000, measured 1,912 square feet and was built in 2004. New homes closed 4.1% below original asking and resales closed 3.5% below original asking, and new construction was 10% of the 1,988 closings in our MLS feed. Here is the full comparison, including where the new homes are and what is for sale right now.

TurboHome Market Analysis · Irvine, CA · Closings November 2025 through October 2026 · Active listings as of November 3, 2026 · Published November 2026

Key findings

Price per square foot: new construction closed at a median $743/sq ft, 6.7% less than the $796/sq ft resale median (-6.7%), so new was cheaper per square foot.
Price and size: the median new build sold for $1,764,000 at 2,410 square feet; the median resale sold for $1,470,000 at 1,912 square feet.
Days on market: new builds took a median 35 days to go under contract, versus 26 for resales.
Negotiating room: new homes closed 4.1% below original asking and 43% had a price cut before closing; resales closed 3.5% below original asking, with 35% cut.
Busiest new-build area: Great Park Neighborhoods, with 115 new-construction closings at a median $1,499,990.
For sale now: new construction is 15% of active inventory (100 listings as of November 3, 2026), and 41% of new listings have been reduced, versus 47% of resale listings.

Irvine new construction vs resale: the numbers

Closings in Irvine in our MLS feed, closings november 2025 through october 2026, all home types.

Irvine new construction vs resale: the numbers, data table
Metric	New construction	Resale
Closings	190	1,798
Median sale price	$1,764,000	$1,470,000
Median $/sq ft	$743/sq ft	$796/sq ft
Median living area (sq ft)	2,410	1,912
Median days on market	35	26
Median close vs original asking	4.1% below original asking	3.5% below original asking
Share sold below original asking	79.5%	76.3%
Share with a price cut before closing	43%	35%
Median year built	Year of sale	2004

Median $/sq ft. Every figure is in the table below.

Median days on market. Every figure is in the table below.

Price per square foot is the fair comparison because new homes and resales in Irvine differ in size: the median new build measured 2,410 square feet against 1,912 for a resale, so the median sale price alone mixes up size and value. Close vs original asking compares the final price with the first list price, so it captures builder price cuts made before the sale, not only the last round of negotiation.

Has the new-build premium in Irvine changed in a year?

Has the new-build premium in Irvine changed in a year?, data table
Period	New $/sq ft	Resale $/sq ft	Gap
Closed Nov 2024 to Oct 2025	$751/sq ft	$837/sq ft	-10.3%
Closed Nov 2025 to Oct 2026	$743/sq ft	$796/sq ft	-6.7%

New construction in Irvine fell from $751/sq ft to $743/sq ft, and resale fell from $837/sq ft to $796/sq ft. The new-build discount narrowed from -10.3% to -6.7% per square foot.

Like for like: single family homes vs condos and townhomes

Like for like: single family homes vs condos and townhomes, data table
Home type	New closings	New median price	New $/sq ft	New median sq ft	New median days on market	New close vs original asking	Resale closings	Resale median price	Resale $/sq ft	Resale median sq ft	Resale median days on market	Resale close vs original asking
Single family	71	$2,600,000	$903/sq ft	2,980	39	5.7% below original asking	772	$2,033,250	$870/sq ft	2,486	21	3.5% below original asking
Condos and townhomes	119	$1,530,000	$694/sq ft	2,219	34	3.4% below original asking	1,026	$1,200,000	$745/sq ft	1,603	28	3.4% below original asking

New single family closed at a median $903/sq ft against $870/sq ft for resale single family, so new carries the premium in this segment. New condos and townhomes closed at a median $694/sq ft against $745/sq ft for resale condos and townhomes, so new was cheaper per square foot like for like.

Where the new homes are in Irvine

Areas of Irvine with the most new-construction closings in our feed, closings november 2025 through october 2026.

Where the new homes are in Irvine, data table
Area	New closings	New median price	New $/sq ft	New median sq ft	New close vs original asking	New median days on market	Resale closings (same area)	Resale $/sq ft (same area)
Great Park Neighborhoods	115	$1,499,990	$674/sq ft	2,300	3.7% below original asking	30	203	$658/sq ft
Portola Springs	41	$2,112,102	$823/sq ft	2,410	6.2% below original asking	60	126	$765/sq ft
Orchard Hills	23	$3,681,226	$1,075/sq ft	3,502	3.0% below original asking	27	96	$972/sq ft

Great Park Neighborhoods had the most new-construction closings in Irvine (115), at a median $1,499,990 and $674/sq ft, against $658/sq ft for resales in the same area. Area figures rest on far fewer closings than the citywide numbers, so read them as direction rather than a price quote.

What is for sale in Irvine right now

Active listings in Irvine in our MLS feed as of November 3, 2026.

What is for sale in Irvine right now, data table
Segment	Active listings	Median list price	Median asking $/sq ft	Median sq ft	Median days on market	Share reduced from original list	Median reduction (reduced listings)
New construction	100	$1,879,196	$700/sq ft	2,704	37	41%	6.4%
Resale	578	$1,597,000	$798/sq ft	1,997	38	47%	5.1%

As of November 3, 2026, new construction is 15% of the homes for sale in Irvine: 100 new listings at a median $700/sq ft, against 578 resales at $798/sq ft. 41% of new listings have already been reduced from their original list price, by a median 6.4%, against 47% of resale listings at a median 5.1%.

Why Irvine new builds cost less

Irvine is the clearest California case of new homes being cheaper per square foot than resale: $743/sq ft versus $796/sq ft, and the median new home is 2,410 square feet against 1,912. Almost all of it is the Great Park Neighborhoods (115 new closings at a median $1,499,990), Portola Springs and Orchard Hills, where Irvine Company and the Great Park builders release phases continuously. New builds closed 4.1% below original asking and 43% had a price cut before closing, against 3.5% below original asking and 35% for resales. A year ago new homes were 10.3% cheaper per square foot than resales, so the discount has narrowed as builders released smaller, cheaper plans. Active new listings are priced at $700/sq ft versus $798/sq ft for resale listings.

Builder incentives and the national picture

Nationally, new homes have been cheaper than existing homes per square foot. Zillow's analysis, reported by HousingWire on September 29, 2026, put the national median at $205 per square foot for new homes versus $212 for existing homes in July 2026. NAHB data reported by Fortune on July 15, 2026 showed the Q1 2026 median new home at $403,200 versus $404,600 for an existing home, the first time new has sold for less since 1974. NAHB's October 2026 Housing Market Index (released October 19, 2026) found 43% of builders cutting prices, an average cut of 6%, and 65% offering incentives such as rate buydowns and closing-cost help.

In Irvine, the gap is -6.7% per square foot: new construction closed at a median $743/sq ft against $796/sq ft for resales. Builder incentives like rate buydowns, closing-cost credits and free upgrades do not show up in the MLS close price, so the effective new-build discount is larger than the close price shows. A buyer's agent can negotiate those incentives on top of the price.

Monthly payment: new vs resale at today's rate

At 7.24%, the average 30-year fixed rate in Freddie Mac's Primary Mortgage Market Survey for the week of October 29, 2026, with 20% down, principal and interest on the median new home in Irvine ($1,764,000) come to $9,617 per month. The median resale ($1,470,000) comes to $8,014 per month, so the new home costs $1,603 more per month before taxes, insurance, HOA and any builder rate buydown.

Builder-paid rate buydowns can cut the first years of a new-home payment well below the figure shown, and resale sellers can be asked for the same credit.

Should you buy new construction or resale in Irvine?

Compare on price per square foot and lot, not list price. The median new build in Irvine measured 2,410 square feet against 1,912 for a resale, so compare $743/sq ft with $796/sq ft, then check lot size and HOA dues before you compare totals.
Ask the builder for the incentive sheet and the last three closed prices in the same community. Irvine new builds closed 4.1% below original asking and 43% had a price cut before closing, so closed prices tell you more than the list price.
Use your own agent. Builders pay the buyer-side commission in most communities, and a flat-fee agent rebates it to you. Bring your agent to your first visit, because many builders only pay an agent who registered you.
Get an independent inspection, even on a new home. City inspections check code minimums, not workmanship. Ask for a pre-drywall inspection and a final inspection before closing.
For resale, use the share-reduced figure to find motivated sellers. 47% of resale listings in Irvine have been cut from their original price, by a median 5.1%, and those sellers are the most open to an offer.

Methodology

We looked at closings of single family homes, condos and townhouses in Irvine from our MLS feed, closed November 2025 through October 2026 (the prior 12 months for the year-over-year comparison), with implausible prices and sizes removed. A closing is counted as new construction when the listing was flagged as new construction or the home was built in the year of sale or the year before; everything else is resale. "Close vs original asking" is the median of close price divided by the original list price, so it includes price cuts made before the sale.

Active listings are as of November 3, 2026. Figures are medians unless stated. Published November 2026.

Frequently asked questions

Are new construction homes cheaper than resale in Irvine?

Yes, per square foot. New construction in Irvine closed at a median $743/sq ft over the past 12 months, 6.7% less than the $796/sq ft median for resale homes (-6.7%).

How much does a new construction home cost in Irvine?

The median new construction home in Irvine sold for $1,764,000 and measured 2,410 square feet, at $743/sq ft. For contrast, the median resale sold for $1,470,000 at 1,912 square feet.

Do builders in Irvine negotiate on price?

New homes in Irvine closed 4.1% below original asking, 79.5% sold below original asking and 43% had a price cut before closing. Resales closed 3.5% below original asking, with 76.3% below original asking and 35% cut. Builder incentives such as rate buydowns and closing-cost credits come on top and are not in those figures.

Has the new-build premium in Irvine changed?

The gap per square foot moved from -10.3% for closings November 2024 to October 2025 to -6.7% for November 2025 to October 2026. New construction went from $751/sq ft to $743/sq ft, and resale from $837/sq ft to $796/sq ft.

Where are the new construction homes in Irvine?

The most new-construction closings in Irvine were in Great Park Neighborhoods (115), Portola Springs (41) and Orchard Hills (23). As of November 3, 2026, 100 new-construction homes were listed for sale.

Buy new or resale in Irvine with a flat-fee buyer's agent

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