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 homes 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: For the most part, I let you peruse these numbers yourself and decide what they mean. However, I will point out that list price and the sold price for homes in Newport Beach, the highest priced Central Orange County housing market, went down. And the list price and the sold price for homes in Santa Ana, the lowest priced Central Orange County housing market, went up.
Also, since I like to compare and contrast Irvine and Costa Mesa, here are some observations on the housing market in these two cities: The list price and the selling price for single-family homes in Costa Mesa went down. However, the selling price for Costa Mesa condos went up. In Irvine, the list price for single-family homes went down, but the selling price for both single-family homes and condos went up.
The Altos index numbers (which are for single-family homes only) show the health of these two markets to be about equal; however, the Altos numbers also show that the Irvine housing market is trending in a more positive direction.
Note that the selling price that I am referring to in the above paragraphs is the price per square foot. The list price is the overall list price.
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:
December 13, 2009: 20.20
October 18, 2009: 20.96
September 13, 2009: 18.97
July 12, 2009: 21.13
- Altos median list price for detached house:
December 13, 2009: $566,785
October 18, 2009: $570,626
- Redfin median sold price:
November 2009: house–$333/SF; condo–$262/SF
September 2009: house–$403/SF; condo–$217/SF
Fountain Valley: approximate % homes on market that are detached–80%
- Altos Research Market Index Number:
December 13, 2009: 22.79
October 18, 2009: 23.86
September 13, 2009: 20.72
July 12, 2009: 26.05
- Altos median list price for detached house:
December 13, 2009: $592,377
October 18, 2009: $598,615
- Redfin median sold price:
November 2009: house–$307/SF; condo–$219/SF
September 2009: house–$307/SF; condo–$304/SF
Huntington Beach: approximate % homes on market that are detached–70%
- Altos Research Market Index Number:
December 13, 2009: 17.80
October 18, 2009: 17.86
September 13, 2009: 16.63
July 12, 2009: 14.50
- Altos median list price for detached house:
December 13, 2009: $760,492
October 18, 2009: $770,762
- Redfin median sold price:
November 2009: house–$374/SF; condo–$334/SF
September 2009: house–$344/SF; condo–$344/SF
Irvine: approximate % homes on market that are detached–45%
- Altos Research Market Index Number:
December 13, 2009: 19.98
October 18, 2009: 19.21
September 13, 2009: 17.18
July 12, 2009: 18.31
- Altos median list price for detached house:
December 13, 2009: $831,685
October 18, 2009: $863,177
- Redfin median sold price:
November 2009: house–$357/SF; condo–$331/SF
September 2009: house–$338/SF; condo–$318/SF
Los Alamitos: approximate % homes on market that are detached–75%
- Altos Research Market Index Number:
December 13, 2009: 17.28
October 18, 2009: 16.83
September 13, 2009: 12.31
July 12, 2009: 11.90
- Altos median list price for detached house:
December 13, 2009: $869,961
October 18, 2009: $860,346
- Redfin median sold price:
November 2009: house–$302/SF; condo–$277/SF
September 2009: house–$260/SF; condo–$275/SF
Newport Beach: approximate % homes on market that are detached–65%
- Altos Research Market Index Number:
December 13, 2009: 16.27
October 18, 2009: 13.61
September 13, 2009: 11.04
July 12, 2009: 11.42
- Altos median list price for detached house:
December 13, 2009: $1,972,692
October 18, 2009: $1,998,992
- Redfin median sold price:
November 2009: house–$610/SF; condo–$435/SF
September 2009: house–$789/SF; condo–$504/SF
Orange: approximate % homes on market that are detached–85%
- Altos Research Market Index Number:
December 13, 2009: 19.91
October 18, 2009: 19.96
September 13, 2009: 18.15
July 12, 2009: 19.26
- Altos median list price for detached house:
December 13, 2009: $555,345
October 18, 2009: $552,197
- Redfin median sold price:
November 2009: house–$255/SF; condo–$217/SF
September 2009: house–$254/SF; condo–$213/SF
Santa Ana: approximate % homes on market that are detached–65%
- Altos Research Market Index Number:
December 13, 2009: 22.84
October 18, 2009: 23.04
September 13, 2009: 20.40
July 12, 2009: 21.75
- Altos median list price for detached house:
December 13, 2009: $342,823
October 18, 2009: $339,523
- Redfin median sold price:
November 2009: house–$244/SF; condo–$147/SF
September 2009: house–$236/SF; condo–$103/SF
Seal Beach: approximate % homes on market that are detached–25%
- Altos Research Market Index Number:
December 13, 2009: 17.11
October 18, 2009: 14.89
September 13, 2009: 14.24
July 12, 2009: 12.91
- Altos median list price for detached house:
December 13, 2009: $967,231
October 18, 2009: $980,553
- Redfin median sold price:
November 2009: house–$384/SF; condo–$138/SF
September 2009: house–$398/SF; condo–$592/SF
Tustin: approximate % homes on market that are detached–50%
- Altos Research Market Index Number:
December 13, 2009: 20.67
October 18, 2009: 20.18
September 13, 2009: 17.55
July 12, 2009: 19.09
- Altos median list price for detached house:
December 13, 2009: $589,884
October 18, 2009: $629,922
- Redfin median sold price:
November 2009: house–$306/SF; condo–$177/SF
September 2009: house–$372/SF; condo–$156/SF
Villa Park: approximate % homes on market that are detached–100%
- Altos Research Market Index Number:
December 13, 2009: 14.35
October 18, 2009: 16.09
September 13, 2009: 14.33
July 12, 2009: 8.43
- Altos median list price for detached house:
December 13, 2009: $1,230,423
October 18, 2009: $1,202,962
- Redfin median sold price
November 2009: house–$308/SF; condo–n/a
September 2009: house–$376/SF; condo–n/a
In some recent posts, I listed a sample of homes in North Orange County and South Orange County that are currently bank owned. Today, we’ll take a look at a sample of homes in Central Orange County that are bank owned. In other words, these homes have gone through a trustee auction which resulted in ownership of the home reverting to the bank. I have included an estimated value, last sold price and the market value (list price) of the home. The information for all of the following homes is from Foreclosed Homes.