Sweet Orange

Today is a continuation of our survey of DataQuick’s housing numbers for Irvine broken down by ZIP. Up today is the 92604 ZIP, which includes El Camino and upper Woodbridge. The DataQuick numbers are for single-family residences, condos, and new homes.

Median Selling Price for 92604 homes (Source: DataQuick)

• April 2010: $587,000 (up 17.4% y-o-y)
• March 2010:$525,000 (up 3.96% y-o-y)

Number of Sales in 92604 (Source:DataQuick)

• April 2010: 35 (up 191.7% y-o-y)
• March 2010: 36 (up 89.47% y-o-y)

The photo is of 14722 Bel Aire Street. This home, which is located in Irvine’s El Canimo area and is currently listed at $575,000, is priced near the median selling price of homes in the 92604 ZIP.

Appraisals for 14722 Bel Aire Street: Low/Medium/High (Source: Redfin)

• Zillow: $515,310/$579,000/$631,110
• Eppraisal:$467,587/$550,103/$632,618
• Cyberhomes: $517,323/$574,804/$661,024

Up next: the 92614 ZIP, which includes lower Woodbridge and part of  the Westpark neighborhoods

As a recent post shows, homes in low-priced areas such as parts of Anaheim, Stanton, and Garden Grove are selling much better than homes in the high-priced areas. MDA DataQuick reports the same:

Sales rose 120 to 150 percent in parts of Anaheim and Stanton where prices ranged from $250,000 to $310,000, reports MDA DataQuick.–”Housing sales jump,” The Orange County Register

The Register article goes on to say that brokers are reporting that homes above $500,000 continue to sell slowly.

So, to check this out, let’s take a look at what is happening in two of these ZIPs that have homes priced on the lower end of the market: Anaheim’s 92804 and 92805.

A DataQuick/Orange County Register chart shows that the number of home sales in July in the 92804 ZIP  increased by 11.9% when compared to the July 2008 sales numbers. However, Trulia shows that the May 2009 to July 2009 sales in the 92804 ZIP decreased by 25.2% when compared to prices of one year ago.

In addition, DataQuick reports that in July Anaheim’s 92805 ZIP, had the second highest increases in the number of sales in Orange County when compared to the same time last year (+123.1%). However, Trulia numbers show a less impressive increase. According to Trulia,  the May 2009 to July 2009 sales in the 92805 ZIP increased by 7.1% when compared to prices of one year ago.

Trulia’s numbers cover a longer time period and, therefore, it is not surprising that the numbers differ. However, watching the numbers from these two sources in the coming months to see if they converge or continue in different directions will be interesting. They should give a clearer picture of which Orange County areas are seeing increases in the number of homes sold and by how much.

Yesterday’s post was about the current Anaaheim housing numbers, including a breakdown by ZIP. Following is a closer look at how housing prices have changed over time in one of these ZIPs, Anaheim’s 92804. (This is also the ZIP that contains the Palais Road home that I highlighted last week, “Anaheim Short Sale Showing Badly.”)

According to Trulia , the median price for all homes, detached houses and condos, in Anaheim’s 92804 ZIP was as follows:

• May to July 2009–$303,592
• The previous three months–$297,833
• One year ago–$357,000
• Five years ago–$453,750.

And according to Trulia, 75% of Anaheim homes are distressed.*

According to Redin, the July 2009 median sales price in the 92804 ZIP was as follows:

• detached houses–$240 per square foot
• condos–$147 per square foot

And according to Redfin, 23.1% of Anaheim’s 92804  homes have price reducitons.**

*Defined as homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. Different groups use different inputs and, therefore, come up with different percentages. In this case the foreclosures are not necessilarly on the market yet (and may not end up on the market).

**Based on homes sold or taken off the market between May 26, 2009 and August 24, 2009.

According to DataQuick/OC Register, Anaheim’s July 2009 housing numbers by ZIP are as follows.

The percent change is the percentage increase or decrease that results when current numbers are compared to the numbers of one year ago. Anaheim contains some of North Orange County’s lower-priced areas. (Stanton currently has the lowest median list price housing in North Orange County.)

The Anaheim Altos Market Action Index for the week ending August 23, 2009 is 22.38. Above 30 is a sellers’ market; below 30 is a buyers’ market.

According to Redfin, 29.1% of Anaheim homes have price reducitons.* According to Trulia, 68% of Anaheim homes are distressed.**

*Based on homes sold or taken off the market between May 26, 2009 and August 24, 2009.

**Defined as homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. Different groups use different inputs and, therefore, come up with different percentages. In this case the foreclosures are not necessilarly on the market yet (and may not end up on the market).