The Irvine Housing Report

Up today are the Irvine housing numbers. This includes all the Irvine neighborhoods (or villages as they are called in Irvine): Northpark, West Irvine, Northwood, Portola Springs, Woodbury, El Camino, Walnut, Columbus Grove, University Park, University Town Center, Orange Tree, Oak Creek, Westpark, the IBC (airport area), San Joaquin, Shady Canyon, Turtle Ridge, Turtle Rock and Quail Hill neighborhoods.

Irvine Median House Prices/SF

Irvine Median Price/SF--Houses

Median Selling Price in Irvine

  • September 2010: $625,000 (up 16.93% y-o-y)
  • August 2010: $580,000 (up 1.9% y-o-y)
  • July 2010: $580,000 (up 6.62% y-o-y)
    Redfin’s JuLy 2010 numbers
    : $570,000  (up 5.1% y-o-y) or $339/SF (up 1.2% y-o-y)

Irvine Median Condo Price/SF

Irvine Median Sold Price/SF--Condos

Number of Sales in Irvine

  • September 2010: 222
  • August 2010: 229
  • July 2010: 226
    Redfin’s numbers: houses sold=106, condos sold=112

Source unless otherwise noted: DQnews

Graphs Courtesy Redfin

The Irvine Housing Report: The 92604 ZIP (Upper Woodbridge and El Camino)

4931-karen-ann-lane-el-caminoUp today is Irvine’s 92604 ZIP numbers. This ZIP  includes the Upper Woodbridge and El Camino neighborhoods.

The photo is of 4931 Karen Ann Lane, a five-bedroom, single-family, custom-built home in El Camino. This home was built in 2009 and is currently the most expensive home on the market in this ZIP. However, at $217 per square foot, this home has a low price per square foot when compared to other homes in the area.

92604 Median Selling Price

  • July 2010: $440,000 (down 15.4% y-o-y)
  • June 2010: $575,000 (up 5.5% y-o-y)
  • May 2010: $530,000 (up 6.2% y-o-y)
    For comparison: Redfin’s May 2010 number is $538,000 (up 8.8% y-o-y) or $340/SF (down 2.4% y-o-y).
  • April 2010: $587,000 (up 17.4% y-o-y)
  • March 2010:$525,000 (up 3.96% y-o-y)

92604 Number of Sales

  • July 2010: 19 (down 20.8% y-o-y)
  • June 2010: 31 (up 47.6% y-o-y)
  • May 2010: 25 (up 8.7% y-o-y)
  • April 2010: 35 (up 191.7% y-o-y)
  • March 2010: 36 (up 89.47% y-o-y)

Source unless otherwise noted: DQnews

The Irvine Housing Report: The 92606 ZIP (Westpark and Walnut)

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:

  • Ju;u 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:

  • 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

Market Report: The Central Orange County Housing Numbers–October 2009

marketreport5-image-black Note: The Altos Market Action Index shows the balance between potential buyers and sellers, in other words, the balance between supply and demand. Above 30 is a sellers’ market; below 30 is a buyers’ market.

Also, these Altos Research numbers are for detached houses only (condos are not included). For this reason, I have included numbers that show the percentage of hones in each city that are detached houses. The Redfin numbers are for both houses and condos.

To see additional information from Redfin including which homes are currently on the market as well as what homes have sold for recently, click on the Redfin link. To see additional Altos Research numbers for each city, click on the Altos Research link.

Summary: Once again, the markets for all Central Orange County housing are buyers’ markets. However, according to the Altos index numbers, the Central Orange County housing market is stronger than it was in September. And in general, according to the index numbers, the lower-priced home markets are stronger than the high-priced areas. For example, compare Newport Beach, Seal Beach and Villa Park Altos index numbers to the Santa Ana index number.

One more point on the Altos index numbers for Central Orange County cities: Seal Beach showed the least movement since last month, and Los Alamitos showed the biggest increase. correction made 10-21-09 sw

Following are some recent Altos Research and Redfin numbers for the Central Orange County housing market:

Costa Mesa: approximate % homes on market that are detached–70%

  • Altos Research Market Index Number:
    October 18, 2009: 20.96
    September 13, 2009: 18.97
    July 12, 2009: 21.13
  • Altos median list price for detached house:
    October 18, 2009: $570,626
  • Redfin median sold price:
    September 2009: house–$403/SF; condo–$217/SF

Fountain Valley: approximate % homes on market that are detached–80%

  • Altos Research Market Index Number:
    October 18, 2009: 23.86
    September 13, 2009: 20.72
    July 12, 2009: 26.05
  • Altos median list price for detached house:
    October 18, 2009: $598,615
  • Redfin median sold price:
    September 2009: house–$307/SF; condo–$304/SF

Huntington Beach: approximate % homes on market that are detached–70%

  • Altos Research Market Index Number:
    October 18, 2009: 17.86
    September 13, 2009: 16.63
    July 12, 2009: 14.50
  • Altos median list price for detached house:
    October 18, 2009: $770,762
  • Redfin median sold price:
    September 2009: house–$344/SF; condo–$344/SF

Irvine: approximate % homes on market that are detached–45%

  • Altos Research Market Index Number:
    October 18, 2009: 19.21
    September 13, 2009: 17.18
    July 12, 2009: 18.31
  • Altos median list price for detached house:
    October 18, 2009: $863,177
  • Redfin median sold price:
    September 2009: house–$338/SF; condo–$318/SF

Los Alamitos: approximate % homes on market that are detached–75%

  • Altos Research Market Index Number:
    October 18, 2009: 16.83
    September 13, 2009: 12.31
    July 12, 2009: 11.90
  • Altos median list price for detached house:
    October 18, 2009: $860,346
  • Redfin median sold price:
    September 2009: house–$260/SF; condo–$275/SF

Newport Beach: approximate % homes on market that are detached–65%

  • Altos Research Market Index Number:
    October 18, 2009: 13.61
    September 13, 2009: 11.04
    July 12, 2009: 11.42
  • Altos median list price for detached house:
    October 18, 2009: $1,998,992
  • Redfin median sold price:
    September 2009: house–$789/SF; condo–$504/SF

Orange: approximate % homes on market that are detached–85%

  • Altos Research Market Index Number:
    October 18, 2009: 19.96
    September 13, 2009: 18.15
    July 12, 2009: 19.26
  • Altos median list price for detached house:
    October 18, 2009: $552,197
  • Redfin median sold price:
    September 2009: house–$254/SF; condo–$213/SF

Santa Ana: approximate % homes on market that are detached–65%

  • Altos Research Market Index Number:
    October 18, 2009: 23.04
    September 13, 2009: 20.40
    July 12, 2009: 21.75
  • Altos median list price for detached house:
    October 18, 2009: $339,523
  • Redfin median sold price:
    September 2009: house–$236/SF; condo–$103/SF

Seal Beach: approximate % homes on market that are detached–25%

  • Altos Research Market Index Number:
    October 18, 2009: 14.89
    September 13, 2009: 14.24
    July 12, 2009: 12.91
  • Altos median list price for detached house:
    October 18, 2009: $980,553
  • Redfin median sold price:
    September 2009: house–$398/SF; condo–$592/SF

Tustin: approximate % homes on market that are detached–50%

  • Altos Research Market Index Number:
    October 18, 2009: 20.18
    September 13, 2009: 17.55
    July 12, 2009: 19.09
  • Altos median list price for detached house:
    October 18, 2009: $629,922
  • Redfin median sold price:
    September 2009: house–$372/SF; condo–$156/SF

Villa Park: approximate % homes on market that are detached–100%

  • Altos Research Market Index Number:
    October 18, 2009: 16.09
    September 13, 2009: 14.33
    July 12, 2009: 8.43
  • Altos median list price for detached house:
    October 18, 2009: $1,202,962
  • Redfin median sold price
    September 2009: house–$376/SF; condo–n/a

Housing Prices in Costa Mesa: The Highs, Lows, and In Between

For a look at what is going on in with housing prices in Costa Mesa, I provided the numbers for the highest- and lowest-priced homes in Costa Mesa as well as the numbers for a Costa Mesa home that is near the median. Here they are:

The highest priced home in Costa Mesa is currently at 369 22nd Street. This home is located in Eastside Costa Mesa (92627) near the Newport Bay. Note that the current listing price is reduced by 15% from the original listing price.

  • 369-22nd-costa-mesaAsking price: $2,990,000 ($516/SF)
  • HOA fee: n/a
  • What: detached house built in 2004
  • Size: 4 beds/6 baths with 5800 square feet
  • Previously sold: February 10, 1996 for $540,000
  • Price reductions:
    * listed April 16,2009 for $3,495,000
    * price reduced on July 22, 2009 to #3,295,000
    * price reduced on August 21, 2009 to $2,990,000

The lowest priced home in Costa Mesa is currently at 1654 Iowa Street, Unit B. This short sale is  located in the Mesa Verde neighborhood  (92626). Note that the current 1654-iowa-st-b-mesa-verdelisting price is approximately 50% below the previous 2006 selling price.

  • Asking price: $209,990 ($234/SF)
  • HOA fee: $250/month
  • What: condo built in 1971
  • Size: 2 beds/1 bath with 897 square feet
  • Previously sold: April 21, 2006 for $406,000

An example of a mid-priced Costa Mesa home is at 832 Presidio Drive. This home is located in Central Costa Mesa (92626) near Tewinkle Park, Orange County Fair Grounds, Orange Coast College, South Coast Plaza as well as many freeways. This is a short sale.

  • 832-presidio-drive-cm-centralAsking price: $439,000 ($338/SF)
  • HOA fee: n/a
  • What: detached house built in 1960
  • Size: 3 beds/62baths with 1200 square feet (7200 SF lot)
  • Previously sold: July 17, 2009 for $439,000 and July 12, 1994 for $184,000

A Snapshot of Costa Mesa: Community Stats

costa-mesa-map-wiki
Since its incorporation in 1953, the city has grown from a semi-rural farming community of 16,840 to a suburban city with an economy based on retail, commerce and light manufacturing.–Wikipedia

For more information on Costa Mesa history and statistics, see the Wikipedia’s Costa Mesa entry.

Related post: “Market Watch: Costa Mesa Housing Stats and Foreclosures

Income: The estimated median household income in 2007 was $63,619; the estimated per capita income in 2007 was $31,218. The 2008 cost of living index in Costa Mesa was 152.1 (very high, U.S. average is 100).

CNNMoney states that Costa Mesa’s 2008 median family income was $71,450.

Note: Household and family income do not have the same definition.

Population Density: The land area is 15.6 square miles. On January 1, 2009, the population was 116,479. Density was 7,448 people per square mile.

2008 FBI Crime Data: For 2008 Costa Mesa crime statistics, see the FBI Uniform Crime Report data provided by the OC Register.

But in two Orange County cities - Costa Mesa and Huntington Beach - the number of violent crimes increased in 2008, according to the FBI’s preliminary report of 2008. Violent crimes in Costa Mesa increased by 36 percent, with the bulk of the increase occurring in reported robberies and aggravated assaults.–Salvador Hernandez, “Two O.C. cities buck trend of lower violent crime, says FBI,” The Orange County Register

2000 U.S.  Census Crime Data:

costa-mesa-propertiy-cirmes-graphs costa-mesa-violent-crime-graph


Market Watch: Costa Mesa Housing Stats and Foreclosures Numbers

costa-mesa-housing-chartFollowing are some recent housing numbers, including the foreclosure numbers, for Costa Mesa that are broken down by ZIP code. These numbers, provided by Trulia, are for condo and detached homes combined.

Alto Research numbers, which are for detached homes only, currently give Costa Mesa a Market Action Index of 17.70 (30 or below is a buyers’ market). According to Redfin, approximately 70% of the Costa Mesa homes on market are detached.

Also, according to an article by Matt Padilla, the rate of foreclosures fell in both Costa Mesa ZIPs: The 92627 foreclosure rate dropped by 37 percent, and the 92626 rate dropped somewhere between 40% to 59% from the previous year. However, as the numbers below show, although the rate of foreclosures is decreasing in Costa Mesa, the number of foreclosures is still high.

92626 (South Coast Metro, Central, Mesa Verde)

  • Average List Price (week ending 8-05-09): $599,086 ($304 per SF)
  • Median Selling Price (May-July 2009): $495,000
  • % home that are in foreclosure: 52.6%*
    (163 new and resale homes for sale, as well as 181 foreclosures**)

92627 (Eastside, Central, Southwest)

  • Average List Price (week ending 8-05-09): $587,880 ($376 per SF)
  • Median Selling Price (May-July 2009): $467,500
  • % home that are in foreclosure: 50.3%*
    (237 new and resale homes for sale, as well as 240 foreclosures**)
*Different groups use different inputs and, therefore, come up with different percentages.

**homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process

COSTA MESA HOME SALES GRAPH COURTESY CITY-DATA.COM

Tomorrow: some Costa Mesa community data numbers

Irvine’s Northwood Village Housing Numbers: Sold Price per Square Foot and More

j-northood-median_condo_sq_ft_by_timej-northwood-median_house_sq_ft_by_time

Yesterday we looked at Trulia’s numbers, which provided foreclosure information and the current overall median selling price of homes in Irvine’s Northwood area. Today, we’ll look at Redfin numbers for a breakdown of pricing information into the detached home and condo categories. Redfin numbers show the February median sold price per square foot in Northwood at $302 for detached homes and $312 for condos. The median sold price per square foot for all Northwood homes was $304.

The Redfin graphs also show some interesting information. According to these graphs, the recent median sold price per square foot for Northwood condos is declining; however, the median sold price per square foot for Northwood detached homes is on the upswing, slightly. (See the Northwood graphs found above. The condo graph is on the left, and the detached home graph is on the right.)

Following are more Northwood housing numbers provided by Redfin. For more information on the homes in this area, see the Northwood map.

April 4, 2009
  • List price: $651K/$343 per SF
  • Sold price: $543K/$315 per SF*
  • Median days on market: 87*
  • Number of homes on the market: 100
    (74 detached/26 condos; 6 bank or MSL foreclosures)

February 27, 2009

  • List price: $599,000/$343 per SF
  • Sold price: $522K/$310 per SF*
  • Median days on market: 91*
  • Number of homes on the market: 92
    (66 detached/26 condos; 7
    bank or MSL foreclosures)

January 31, 2009

  • List price: $609,500/$331 per SF
  • Sold price: $530K/$318 per SF*
  • Median days on market: NA
  • Number of homes on the market: 78

December 30, 2008

  • List price: $649,000/$340 per SF
  • Sold price: $606K/$332 per SF*
  • Median days on market: NA
  • Number of homes on the market: 93
*Based on homes sold or taken off the market in the previous 90 days

Note: Northwood is a diverse area; therefore, a closer look at the sales price of similar homes in the immediate vicinity of the home that you are interested in is particularly importantmore information on that later.

Development on a Natural Landmark? The Irvine Ranch Natural Landmark

38160851Previously, I wrote about the Irvine Ranch land that was designated as a National Natural Landmark and, more recently, designated as a California National Landmark. So you might think that this designation would prevent development on this land. Not true!  The designation of an area as a Natural Landmark does not prevent the area from being developed. The landowners can still make this call, as long as they comply with any zoning requirements and legal agreements that are already attached to the land. However, landowners have been successful in having zoning requirements changed, and the Natural Landmark designation does not put any binding legal agreements on the landowners.

The owners of the Irvine Ranch Natural Landmark land are the County of Orange, City of Irvine, The Irvine Company, California Department of Fish and Game, California Department of Parks and Recreation, City of Laguna Beach, General Services Administration, and the City of Newport Beach.

As I mentioned in my previous post, a look at the locations that are included in the Irvine Ranch National Natural Landmark (such as the Anaheim Wilderness Area, Weir Canyon, Santiago Canyon, and Crystal Cove State Park) as well as the activities available at these locations is available by clicking here. A look at an Irvine Company YouTube video of the Irvine Ranch Natural Landmark, is available by clicking here. A map of the 93,000-acre Irvine Ranch, 50,000 Irvine Ranch reserve, and 40,000-acre Irvine Ranch Natural Landmark is provided above.

Next week: A look at more housing numbers for Irvine neighborhoods

Map Courtesy the Irvine Company, LA Times, and OC Liberal

A Look at the Housing Numbers for Irvine’s Rancho San Joaquin Village

rsanjoaquin-pricesf-april09

Irvine’s Rancho San Joaquin: Median Price per Square Foot Housing Number Trend

Following are the housing numbers for Irvine’s Rancho San Joaquin neighborhood. The homes on the market in this area are all condos, which is also true for Irvine’s University Town Center and Irviine Business Complex, which is also known as the IBC or the airport area.  (The Orange Tree neighborhood is mostly condos but does include a few detached homes.)

As shown by the Redfin graph that cover July 2007 to the present, the median sold price per square foot for homes in Rancho San Joaquin hit a low in April 2008. Since that time, the median price per square foot has had some ups and downs but has always stayed above the April 2008 low. As shown by the Redfin numbers listed below, the overall median sold price for Rancho San Joaquin homes since the beginning of 2009 has stayed constant ($420,000 to $425,000). Redfin stats also state that no Rancho San Joaquin homes sold in January 2009.

Trulia statistics show that the overall median sales price is down 1.2% from the previous quarter; down 29.3% from the previous year, and down 13.4% from five years ago. Trulia also states that the average price per square foot changed 0% from when compared to the same time last year.  According to the Trulia stats, only 3 San Joaquin homes sold in the first quarter of 2009.

These various numbers—some going up, some going down, some going sideways—show a complex picture of what is happening in the San Joaquin housing market.

For more information on housing in this area, see the Rancho San Joaquin map.

April 4, 2009

  • Median List price: $537K/$331 per SF
  • Median Sold price: $424K/$339 per SF*
  • Median days on market: 107*
  • Number of homes on the market: 14
    (0 detached/14 condos; 0 Bank and MSL foreclosures)

February 26, 2009

  • Median List price: $537,000/$331 per SF
  • Median Sold price: $420K/$277 per SF*
  • Median days on market: 179*
  • Number of homes on the market: 16
    (0 detached/16 condos; Bank and MSL foreclosures)

January 31, 2009

  • Median List price: $429,000/$330 per SF
  • Median Sold price: $422K/$334 per SF*
  • Median days on market: 137.5*
  • Number of homes on the market: 9

December 30, 2008

  • Median List price: $434,450/$348 per SF
  • Median Sold price: $425K/$392 per SF*
  • Median days on market: 116*
  • Number of homes on the market: 8
*Based on homes sold or taken off the market in the previous 90 days

Sources: Redfin; Trulia

Tomorrow: A look at Irvine’s Orange Tree numbers

Tuesday: The Highs, the Lows and the In Between: A Closer Look at Housing in Irvine’s Rancho San Joaquin Village