Sales up 4.6% in summer – Orange County Register

Homebuying in Lake Forest in the third quarter outpaced countywide sales activity.

Using CoreLogic data, we compared sales patterns for all residences in the July-to-September period vs. a year ago for the older parts of Lake Forest and Foothill Ranch. Sales rose as 389 residences were purchased this year vs. 372 a year ago. That’s a gain of 4.6 percent vs. an increase of 2.2 percent countywide.

Neighborhood trends for the summer quarter from CoreLogic’s report:

Lake Forest ZIP 92630 — 344 homes sold vs. 285 a year ago. That’s a sales gain of 20.7 percent. Median of $710,000 vs. $639,640 last year, a gain of 11 percent. That median ranked No. 39 highest out of 83.

Foothill Ranch ZIP code 92610 — 45 homes sold vs. 87 a year ago. That’s a sales loss of 48.3 percent. Median selling price of $719,500 vs. $614,432 last year, a gain of 17.1 percent. That median ranked No. 36 highest out of 83 Orange County ZIPs.

Eight countywide trends from the summer quarter vs. 2016:

1. Prices were up in 75 of 83 Orange County ZIP codes compared to the previous year.

2. Sales rose in 38 of 83 ZIPs vs. year-ago period.

3. Builder sales were up 16.7 percent from a year ago.

4. In the 27 least expensive ZIP codes — median sales price at $610,000 and below — sales fell 1.9 percent compared to a year ago.

5. In the 27 priciest ZIPs — median sales price beginning at $775,000 and higher — sales rose 10.7 percent vs. a year ago.

6. In the nine Orange County ZIP codes with median above $1 million, sales totaled 693 homes, up 3.27 percent vs. a year ago.

7. In the county’s 16 beach-close ZIP codes, sales rose 7 percent vs. a year ago.

8. Seven ZIPs with median prices under $500,000 had total sales of 553 homes. A year ago, 11 ZIPs had medians under $500,000 with 967 sales. That’s a drop of 43 percent in a year.

How much Orange County housing can you buy for $350,000?

SEE: $350,000 new home in Orange County? It’s in the works in Rancho Mission Viejo

Read the full article from the Source…

Leave a Reply

Your email address will not be published. Required fields are marked *