Irvine Housing Blog |  |
| Posted: 05 Mar 2012 04:00 AM PST The first formal education system was developed during 300 BC by Sumerians and Egyptians to serve as centers for teaching reading and writing. Later on, Confucius added music, literature and ethics to the learning list, and turned schools into enrichment centers. By the time we went to school, they served dual purpose of educating us, and setting the stage for our career choices. However, in the past decade education has evolved into a “race to the top” purely based on numbers. API ranking, API Growth Scores, Test Scores, SAT Scores, GPA – all these numbers have become vital in deciding a student’s future, and in controlling the real estate prices. Whether we like it or not, for a large population that resides in Irvine, school district was the decisive factor. But even in the best school district, are some schools better than others? Does that affect the price for the particular neighborhood? Before we tell our children that our equity rests in their hands and ask them to bolster their test scores, let’s have a look at the Median Price/SF in the Irvine Villages and the percentage of price change in the last year (disregarding the age of the village, the ethnicity of the residents, the proximity to the freeway and other factors)
Observations: West Park has the highest price/sf in the list, but the elementary school has API rank of 8, and the API Growth Score is not above the desirable 900. The year-over-year percentage drop was the biggest in Lowers Peters Canyon (West Irvine and North park, North park Square) area, and it has Tustin Unified School District schools with a perfect 10 API, and high API Growth Scores. Portola Springs saw a percentage hike over last year’s median price/sf, and the schools have a perfect ten API rank and good API growth score. But many other villages are on par with those numbers. Even though the boundaries of the City of Irvine command better prices in Orange County because of their schools, school boundaries within Irvine aren’t dictating the prices yet. Would you choose one Irvine village over another based only on the schools? Do you think it is the schools that help Irvine hold the premium over other cities? Discuss below or at Talk Irvine.
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