Home Sales Jump in 57 Orange County Zips

In welcome news for Orange County homeowners looking to sell, home-buying statistics show an increase in purchases for the last week of April 2011 and the first two weeks of May 2011. DataQuick, a real estate data analysis company, reports that fifty-seven zip codes across forty cities, nearly 70 percent, show positive home buying patterns. In 19 of those local zip code zones, both sales gains and price gains are up and combined represent one-fourth of Orange County’s market

Even though overall buyer’s prices are down 2.7 percent over last year, thirty-four zip codes show improvement in the median selling price and compared to last year, over all sales in the County are up 14.9 percent. This is good news for real estate professionals and homeowners looking to sell

Not all the news is positive, however. Consider that in June 2007, at the peak of the median price rise for Orange County, eleven zip codes had median home prices over $1 million. In this latest report, only seven of the 83 delivery areas are in the over-$1 million range. Current million-dollar zip codes include mostly coastal regions like Corona del Mar, Laguna Beach, parts of Newport Beach, Newport Coast—topping $2 million and Villa Park—the lone landlocked community in the list

Neighborhoods that showed the most improvement in sales include Anaheim’s zone 92808, improved by 39.0 percent and median sales prices up 21.7 percent over last year; and, Huntington Beach’s 92649, with 11 percent more sales and a median 35.5 price increase. Two communities topped a forty percent increase in sales numbers combined with an increase in the median price: Irvine’s 92614, showing an increase of 41.0 percent and an increase in the median price of 18.2 percent; and, Laguna Beach, with a 53.4 percent increase in sales and median price increases of 40.7 percent

While some cities percentage of home sold increased in double digits, their median prices dropped. For example, while Laguna Beach improved 53.4 percent in home sold and an uptick in the median price of 40.7 percent, the numbers for Newport Coast were 55.8 percent and -17.4 percent respectively. In Santa Ana’s upscale 92705 neighborhood, home sales improved 44.2 percent, but median prices dropped 51.9 percent

Garden Grove’s 92844 improved in its median price by a whopping 300.0 percent, but the gain was offset by home sales that dropped 21.1 percent. Two other communities have median price jumps over 100.0 percent. These are Newport Beach’s 92663 at with a median price that doubled over last year and Midway City, up 150.0 percent

Other locations with jumps in the median price include La Palma with a median price surge to 62.5 percent over a year ago, but sales are down slightly by 1.5 percent

A few neighborhoods had negative postings in both columns. These include Brea’s 92823 with sales dropping by 34.5 percent and median prices dropping by 62.5 percent, and Orange’s 92865, showing a decrease in sales of 13.6 percent and median price reductions of 35.5 percent

While the stark numbers do not tell the whole story, the composite numbers for the county are up…and that is a positive indication going into the summer.