Sweet Orange

Up today is Irvine’s 92606 ZIP housing numbers. This ZIP includes the Westpark and Walnut neighborhoods. The photos are of 59 Del Cambrea, a three-bedroom, single-family home in Westpark, and 39 Royal Victoria, a four-bedroom condo in Walnut. Both have HOA fees and Mello Roos taxes, and both are priced near the overall median for homes in this ZIP. However, the price per square foot is considerably cheaper for the Royal Victoria home ($309/SF) than for the Del Cambrea home ($441/SF).

92606 Median Selling Price:

• 

  39 Royal Victoria, Irvine (Walnut)

  July 2010: $584,000 (up 9.5% y-o-y)

• June 2010: $457,000 (down 25.4% y-o-y)
• May 2010: $408,000 (down 16.7% y-o-y)
  For comparison: Redfn’s May median numbers are $457,000 (down 30% y-o-y) or $347/SF (up 1.5% y-o-y)
• April 2010: $498,000 (down 20.3% y-o-y)
• March 2010: $613,000 (up 12.07% y-o-y)

92606 Number of Sales:

• 

  59 Del Cambrea, Irvine (Westpark)

  July 2010: 14 (down 22.2% y-o-y)

• June 2010: 17 (up 6.3% y-o-y)
• May 2010: 21 (up 40.0% y-o-y)
• April 2010: 12 (up 33.3% y-o-y)
• March 2010: 15 (up 25.00% y-o-y)

Source unless otherwise noted: DQNews

3138 Watermarke Place, Irvine (IBC)

Up today is the 92612 ZIP housing numbers. This ZIP includes the IBC (airport area), Rancho San Joaquin, University Park and University Town Center. With the exception of the IBC, which is Irvine’s mixed-use, urban-living area that is located near the San Joaquin Marsh, all these neighborhoods are some of Irvine’s more established areas. University Park and University Town Center are near UCI and Mason Park, and Rancho San Joaquin is near the Rancho San Joaquin golf course.

According to Redfin, the least expensive home in this ZIP is an REO condo in the IBC ($204,900 or $323/SF). The most expensive home ($2,495,000 or $582/SF) is also in the IBC. This home is a high-rise condo and is under contract. It is also a short sale. As always, be sure to check the HOA fee and Mellos Roos tax when buying in the IBC–or anywhere for that matter, but especially in the IBC.

92612 Median Selling Price

• June 2010: $440,000 (down 7.0%  y-o-y)
• May 2010: $457,500 (down 12.0%  y-o-y)
• April 2010: $445,000 (up 6.0%  y-o-y)
  For comparison: Redfin’s overall April median selling price is $427,000 (up 1.7% y-o-y) or $327 per square foot (down 3.8% y-o-y).
• March 2010: $430,000 (down 1.83% y-o-y)

92612 Number of Sales

• June 2010: 47 (up 56.7% y-o-y)
• May 2010: 42 (up 90.9% y-o-y)
• April 2010: 33 (up 73.7% y-o-y)
• March 2010: 34 (up 100.00% y-o-y)

Source unless otherwise noted: DataQuick

Up today is the 92620 ZIP numbers. This ZIP includes the old and the new, the expensive and not so expensive: Oak Creek, Orange Tree, Portola Springs and Woodbury East. Currently, the least expensive home in this ZIP is located in the well established area of Orange Tree. The most expensive home is located in newly built community of Portola Springs.

325 Tangelo #324, Irvine (Orange Tree)

92618 Median Selling Price

• June 2010: $605,500 (up 89.2% y-o-y)
• May 2010: $628,500 (up 44.5% y-o-y)
• April 2010: $690,500 (up 29.4% y-o-y)
  For comparison: According to Redfin, the April median selling price for this ZIP was $615,000 or $315 per square foot.
• March 2010: $602,500 (up 28.26% y-o-y)

20 Small Grove, Irvine (Portola Springs)

92618 Number of Sales

• June 2010: 140 (up 775.0% y-o-y)
• May 2010: 76 (up 300.0% y-o-y)
• April 2010: 25 (up 92.3% y-o-y)
• March 2010: 35 (up 483.33% y-o-y)

Note: The photos are of the least expensive ($208,800–a short sale) and the most expensive ($1,799,000) homes that are currently on the market in this ZIP code.

Source unless otherwise noted: DataQuick

Here is a quote from a recent e-mail that I received from William Lyon Homes. It touts a price reduction for a three-bedroom condo in the newly built Irvine community of Ivy in Woodbury East.

Add an Incredible Opportunity into the Story of Your Life
…Ivy at Woodbury East

Residence C - Lot 81
2-Story Townhome
Approx. 1,500 Sq. Ft.
3 Bedrooms, 2.5 Baths
2-Car Garage

Private courtyard entry
Fireplace
Granite Kitchen countertops
Stainless steel kitchen appliances
Flush light package at Master Bedroom and Family Room

Priced at $469,990

However, the asking price for Resident C Ivy homes when they went on the market in July 2009 was $427,990. In August 2009, the price was increased to $439,990. Then in September 2009, the price was increased again to $441,990.

Are more ups and downs in store in the immediate future for the newly built Ivy homes (and the other new developments in Irvine)? We’ll see.

It is time to look at the Irvine housing numbers again. Up today is the 92620 ZIP, which includes Northwood, Northwood Pointe, Northwood II and Woodbury.

92620 Median Selling Price

• June 2010: $751,750 (up 33.7% y-o-y)
• May 2010: $666,000 (down 2.1% y-o-y)
• April 2010: $605,000 (up 10.0% y-o-y)
  For comparison: Redfin lists the April 2010 overall median selling price as $650,000 or $338 per square foot.
• March 2010: $637,500 (up 6.25% y-o-y)

92620 Number of Sales

• June 2010: 67 (up 21.4% y-o-y)
• May 2010: 48 (down 9.4% y-o-y)
• April 2010: 50 (up 78.6% y-o-y)
• March 2010: 59 (up 156.52% y-o-y)

Note: The photo is of 34 Lee, which is a 4-bedroom, single-family home in Irvine’s Northwood. This home has no HOA fee or Mellos Roos tax. At $749,900 ($311/SF), this home  is priced near the current median selling price of homes in this ZIP.

Source unless otherwise noted: DataQuick

In my previous post, I wrote about the current median selling price and number of sales for housing in Irvine’s 92620 ZIP. Following is a sample of homes in this ZIP that represent each of the neighborhoods in the 92620 ZIP: Woodbury, Northwood, Northwood II, Northwood Pointe. The list price of each of these homes, as reported by DataQuick, is near the current overall median selling price for homes in this ZIP.

Woodbury: 45 Concierto, Irvine 92620

• 3 bed/3.5 bath
• 2005 condo
• $675,000 ($307/SF)
• HOA fee: $105 and $166; Mellos Roos tax: Yes
  

45 Concierto, Irvine (Woodbury)

Northwood: 28 Belmonte, Irvine 92620

• 4 bed/2.5 bath
• 1979 single-family
• $650,000 ($303/SF)
• No HOA fee or  Mellos Roos tax listed
  

28 Belmonte, Irvine (Northwood)

Northwood II: 35 Secret Garden, Irvine 92620

• 3 bed/3 bath
• 2005 condo
• $699,000 ($305/SF)
• HOA fee: $149 and $129; Mellos Roos tax: Yes
  

35 Secret Garden, Irvine (Northwood II)

Northword Pointe: 21 Eden, Irvine 92620

• 3 bed/2.5 bath
• 1980 single-family
• $659,900 ($305/SF)
• HOA fee: $81; Mellos Roos tax: No
  

21 Eden, Irvine (Northwood Pointe)

13711 Andele Way, Irvine (Northwood)

Today is a continuation of our survey of DataQuick’s housing numbers for Irvine broken down by ZIP. Up today is the 92620 ZIP, which includes Northwood, Northwood Pointe, Northwood II, and Woodbury. The DataQuick numbers are for single-family residences, condos, and new homes.

The photo is of 13711 Andele Way, which is a single-family home in Irvine’s Northwood neighborhood that is priced near the median selling price for  homes in the 92620 ZIP. The asking price is $685,000. At $303 per square foot and with no Mellos Roos tax or HOA fee, this four-bedroom home is reasonably priced for this area.

92620 Median Selling Price

• May 2010: $666,000 (down 2.1% y-o-y)
• April 2010: $605,000 (up 10.0% y-o-y)
• March 2010: $637,500 (up 6.25% y-o-y)

92620 Number of Sales

• May 2010: 48 (down 9.4% y-o-y)
• April 2010: 50 (up 78.6% y-o-y)
• March 2010: 59 (up 156.52% y-o-y)

Here is a look at some homes in the 92618 ZIP that have listing prices under DataQuick’s overall median selling price. They all happen to be 2bed/2 bath homes, and, with the exception of Woodbury East, they represent each of the neighborhoods in this ZIP. To see what is available in the Woodbury East neighborhood, click on the Woodbury East link.

• 36 Pathway (Portola Springs): 2 bed/2 bath condo, 1312 SF, built in 2006, has Mellos Roos tax and HOA fee
  Asking price: $449,000 ($342/SF)
  

• 28 Gereanium #43 (Oak Creek): 2 bed/2 bath condo, 1350 SF, built in 2001, has Mellos Roos tax and HOA fee
  Asking price: $450,000 ($333/SF)
  
• 43 Tangerine (Orange Tree): 2 bed/2 bath single-family, 1138 SF, built in 1976, has a relatively modest HOA fee ($184.45 per month) but no Mellos Roos tax, one of the few single-family homes in the Orange Tree neighborhood
  Asking price: $450,000 ($395/SF)
  

Up next: the 92620 ZIP, which includes the Woodbury and Northwood neighborhoods

Woodbury East

Today is a continuation of our survey of DataQuick’s housing numbers for Irvine broken down by ZIP. Up today is the 92618 ZIP, which  includes Portola Springs, Oak Creek, Orange Tree, and Woodbury East. The DataQuick numbers are for single-family residences, condos, and new homes.

Median Selling Price

• May 2010: $628,500 (up 44.5% y-o-y)
• April 2010: $690,500 (up 29.4% y-o-y)
• March 2010: $602,500 (up 28.26% y-o-y)

Number of Sales

• May 2010: 76 (up 300.0% y-o-y)
• April 2010: 25 (up 92.3% y-o-y)
• March 2010: 35 (up 483.33% y-o-y)

The most likely reason for the 300% increase in sales is the entry onto the market of the new Woodbury East homes.

Up next: some 92518 homes priced under the median

2220 Scholarship (IBC)

Today is a continuation of our survey of DataQuick’s housing numbers for Irvine broken down by ZIP. Up today is the 92612 ZIP, which includes IBC (Airport Area), Rancho San Joaquin, University Park and University Town Center. The DataQuick numbers are for single-family residences, condos, and new homes.

Median Selling Price

• April 2010: $445,000 (up 6.0%  y-o-y)
• March 2010: $430,000 (down 1.83% y-o-y)

Number of Sales

• April 2010: 33 (up 73.7% y-o-y)
• March 2010: 34 (up 100.00% y-o-y)

The photo is of 2220 Scholarship, a mid-rise condo in Irvine’s urban village area that is called the IBC (also called the Airport Area on most real estate listings). At $450,000. this home, which is part of the Avenue One development, is priced near the overall median selling price of homes in the 92612 ZIP. However, the IBC’s overall selling price is somewhat lower than is the median selling price for homes in the various 92612 neighborhoods combined. This is one of the problems that exist when homes in Irvine are grouped by ZIP instead of by neighborhood.

Up next: the 92618 ZIP, which includes Portola Springs, Oak Creek, Orange Tree, and Woodbury East