Sweet Orange

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.

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