South Orange County Blog from Bob Phillips

Sales volume in priciest O.C. ZIP codes up 16 percent in September

From Jonathan Lansner, O.C. Register Staff Columnist, 10/22/2015

Illuminated House With Pond In Foreground

Orange County housing’s upper crust finished the summer in style.

In September, home sales in the county’s 27 priciest ZIP codes – neighborhoods where the median sales price run from $722,500 to $3.65 million – were up 16.3 percent compared to a year ago, according to CoreLogic data.

Countywide, 3,282 Orange County residences sold, up 15 percent from a year ago. Orange County’s median selling price for all residences was $615,000 in the period, up 5.3 percent compared to a year ago.

In the nine Orange County ZIP codes with median selling prices above $1 million, sales totaled 222 homes, up 20 percent compared to a year ago. The most expensive ZIP codes were Newport Coast 92657 and Newport Beach 92661 at $3.65 million.

Other noteworthy trends in CoreLogic’s September report:

• Gains were not universal. Prices were up in 55 of 83 Orange County ZIP codes compared to the previous year. Sales volume rose in 63 of the 83 ZIPs.

• The latest countywide median price is 4.7 percent below the all-time high monthly price of $645,000 set in June 2007.

• Median selling price for resales of single family homes was $679,750 – up 4.6 percent from a year ago and 7.4 percent below the all-time high monthly price of $734,000 set in June 2007.

• Resale condos’ median selling price was $430,000 – up 7.9 percent from a year ago, yet 8.5 percent below the all-time high monthly price of $470,000 set in March 2007.

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