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

The Crossroads district, one of Irvine’s three geopolicing areas, contains the following Irvine neighborhoods, or as they are called in Irvine, villages:

• Woodbridge

  

  Irvine's Crossroad Geopolicing District

• Westpark (includes Westpark I and Westpark II)
• El Camino (includes Deerfield, The Ranch, The Colony, Irvine Groves, Heritage Park, Greentree, The Willows, Smoketree, and El Camino Glen) 
• Walnut (includes College Park, Harvard Square, Windwood, and  Walnut Village)
• Columbus Groves

To see pricing and inventory information for these Irvine villages, click on the links provided above. This will bring you to Redfin’s Community Overview Page for that village (You can also enter zip codes, city names or neighborhood names in the Search box at the top, left of the Redfin page).

In addition to pricing and inventory information, the Community Overview Page provides the follow information: new listings, open houses, recently sold homes, most expensive listings, least expensive listings, and listings with recent price reductions. Community and school information for these villages is also available.

Note: For a link to Irvine’s webpage that provides information on the help available to residents, see Irvine’s Community Outreach and Education page.

Here is an example of a home that sold for more than the list price. This home, which is in Irvine’s El Camino neighborhood, was listed on August 12, 2009, for $415,000, delisted on August 19, then relisted on September 8 for $415,000. This El Camino condo sold on 10/19/2009 for $437,500, approximately $22,000 more than the asking price.

8 Pierre Irvine, CA 92604 (El Camino neighborhood)

• 3 beds/2 baths
• 1223 SF
• Condo built in 1977
• HOA: $175
• Asking price: $415,000 ($339/SF)
• Selling price: $437,500 ($358/SF)

Current estimates for this home:

• Cyberhomes: $406,828.
• Eappraisal: $362,930
• Zillow: $438,000.

An example of a home that is near the mid-price for an Irvine home is at 46 Snapdragon.* This home, located in the El Camino and Deerfield Park area (92604), went on the market in July for $519,000. Then it was delisted and relisted various times. Maybe this has to do this the information on the listing that states escrow cannot close before December 22nd of this year. The interesting part is that the current list price is an increase of $10,000 from the original list price.

Nearby 37 Snapdragon #20, also a three bedroom, sold in June 2009 for $435,000 or $298 per square foot. And another three-bedroom condo at 37 Snapdragon is currently on the market for $435,000 or $290 per square foot. However, the exterior picture for 37 Snapdragon is not as appealing as the exterior picture for 46 Snapdragon, and the 37 Snapdragon homes are smaller than the 46 Snapdragon home.

Current listing information for 46 Snapdragon:

• Asking price: $529,000 ($322/SF)
• HOA fee: $47 and $210
• What: condo built in 1975
• Size: 3 beds/2.5 baths with 1645 square feet
• Previously sold: n/a

Listing history for 46 Snapdragon:

• September 12, 2009–Price Changed to $529,000
• September 10, 2009–Relisted
• September05, 2009–Delisted
• September 05, 2009–Relisted
• August 22, 2009–Delisted
• July 31, 2009–Listed at $519,000

*According to Redfin, the median selling price in June for an Irvine home was $537,000 or $320 per square foot. According to Trulia, the median selling price for Irvine homes that were on the market between June and August was $555,000. And, finally, according to the California Association of Realtors, Irvine’s median selling price was $551,000 in June and $580,000 in August.