Sweet Orange

Following is a history of the median sales price for homes in Costa Mesa by ZIP.  The 92626 ZIP includes South Coast Metro, Mesa Verde, and part of Central Costa Mesa. The 92627 ZIP includes Eastside, Southwest and part of Central Costa Mesa.

92626

• June 2010: $530,750 (up 9.9% from June 2009)
• May 2010: $512,000 (down 1.5% from May 2009)
• April 2010: $512,250 (up 6.4% from April 2009)
  Note: For comparison, Redfin’s overall April 2010 median selling price was $509K or $312/SF.
• March 2010: $515,000 (up 12% from March 2009)

92627

• June 2010: $445,000 (down 2.9% from June 2009)
• May 2010: $425,000 (down 19.0% from May 2009)
• April 2010: $435,000 (down 5.6% from April 2009)
  Note: For comparison, Redfin’s overall April 2010 median selling price was also $435K or $353/SF.
• March 2010: $467,500 (up 24.7% from March 2009)

Photo Collage of Eastside Costa Mesa-Newport Beach Courtesy Costa Mesa’s Neighborhood Blog

Source unless otherwise noted: DataQuick/OC Register

Up next: number of home sales in Costa Mesa by ZIP

Up next on our Costa Mesa then-and-now tour is 2296 La Playa Drive 92627, which is a  2 bed/2.5 bath, single-family home in Eastside Costa Mesa.

Asking price in November 2009: $574,900 or $396 per SF then changed to $549,900 or $379/SF

Current status: This Eastside home is currently off the market. This home was on the market in August 2006 and then delisted and relisted numerous times since then. Most recently, this home was delisted in February 2010.

HOA and Mellos Roos: no Mellos Roos but an small HOA fee

Of note: This home sold in January 2005 for $625,000. Current estimates for value of this home are from $497,000 to $697,000.

Up next on our Costa Mesa then-and-now tour is 157 Del Mar Avenue 92627:, which is a 3 bed/2.75 bath, single-family home in Eastside Costa Mesa.

Asking price in November 2009: On November 2, 2009, the asking price was $599,000 or $408 per SF; however, on November 18, 2009, the price was reduced to $579,900 or $394/SF.

Current status: This home sold on the fourteenth of this month for $571,000 or $388 per SF.

HOA and Mellos Roos: none listed

Of note: This Eastside home was on the market in December 2008 but did not sell until June 2010.

Up next on our then-and-now tour of the Costa Mesa housing market is 2189 Tustin Avenue 92627, a 3 bed/2.5 baths, single-family home in Eastside Costa Mesa.

Asking price in November 2009: $1,249,000 or $416 per SF

Current status: This Eastside home sold in December 2009 for $985,000 or $328 per SF.

HOA and Mellos Roos: none listed

Of note: The first listing for this home shows up in June 2009; at this time the asking price was the same as the November 2009 asking price, $1,249,000. The asking price was reduced in December 2009 to $1,095,000. Current estimates for this home range from $950,000 to $1,008,000.

An Eastside Costa Mesa Building

I my previous post I stated that the median price per square foot numbers often give a more accurate picture of the housing market in an area than the overall median price of housing in that area does. I also gave the price per square foot numbers for Costa Mesa’s 92626 ZIP (South Coast Metro, Mesa Verde, and part of Central Costa Mesa).

As a continuation of that thought, here are the recent price per square numbers for Costa Mesa’s other ZIP, 92627. The 92627 ZIP includes Eastside, Southwest and part of Central Costa Mesa.

House

• February 2010–$451 (up 40.5% from February 2009)
• January 2010–$346 (up 0.7 from January 2009)

Condo

• February 2010–$260 (up 16.6% from February 2009)
• January 2010–$275 (down 10.1 from January 2009)

Both (houses + condos)

• February 2010–$333 (up 7.8% from February 2009)
• January 2010–$312 (down 2.4 from January 2009)

Source:  Redfin

Up next: For a little comparison, I will give the price per square foot numbers for all Costa Mesa and all Orange County.

Photo Courtesy livingcostamesa.com

Here are the some recent numbers for Costa Mesa by ZIP. The 92626 ZIP includes South Coast Metro, part of Central and Mesa Verde. The 92627 ZIP includes Eastside, Southwest and part of Central Costa Mesa.

DataQuick March 2010 Median Selling Price

• 92626: $515,000 (up 12% from March 2009)
• 92627: $467,500 (up 24.7% from March 2009)

DataQuick March 2010 Number of Sales

• 92626: 32 (down 22.0% from March 2009)
• 92627: 36 (up 24.1% from March 2009)

Redfins’s January 2010 Median Price per Square Foot

92626:

• house–$310 (up 1.6 from January 2009)
• condo–$242 (down 4.7%  from January 2009)
• both–$275 (down 2.1%  from January 2009)

92627:

• house–$346 (up 0.7 from January 2009)
• condo–$275 (down 10.1 from January 2009)
• both–$312 (down 2.4 from January 2009)

Sources: DataQuick, Redfin

Graphic of the Performing Arts Center in the South Coast Metro area of Costa Mesa Courtesy Costa Mesa Conference and Visitor Bureau

Following 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**)

**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