Sweet Orange

Last week I wrote about housing price reductions at the national level and the Trulia survey that showed that the outlook for the high-end of the national real estate market was not good. Today I’ll keep it closer to home by taking a look at some Orange County price reductions numbers. These stats, provided by Redfin and based on the March 19 to June 17 median numbers, show the number of price reductions (by percentage) in certain Orange County cities. I used a sample of Orange County’s 34 cities that I hope is representative of Orange County as a whole, and I listed these cities from high to low.

• Coto de Caza 58%
• Dana Point 56%
• Laguna Beach 52%
• Villa Park 54%
• Ladera Ranch 50%
• Mission Viejo 46%
• Aliso Viejo 46%
• Tustin 44%
• Lake Forest 43%
• Irvine 42%
• Orange 41%%
• Fullerton 39%
• Costa Mesa 38%
• Brea 37%
• Santa Ana 36%
• Anaheim 34%

In general, the high-priced Orange County areas have more price reductions than the lower-priced areas. For example, take a look at the three Orange County cities with the highest percentage of price reductions: Coto de Caza, Laguna Beach, and Dana Point.

In Coto de Caza of The Real Housewives of Orange County fame,  58% of the homes are listed with price reductions. Next are the high-priced beach towns of Dana Point and Laguna Beach.

At the bottom of the list are two cities with a large number of low-priced homes: Santa Ana and Anaheim. Santa Ana, in particular, has received a lot of criticism in the recent past for its high number of distressed properties. Looks like the tables are turning.

For a look at more Redfin numbers, download the Redfin Excel spreadsheet.

For more information on possible problems for the high-end of the Orange County real estate market, see “Are the High-End O.C. Homes About to Take a Dive?“