Sweet Orange

In the next week or two, we will be following  some recent numbers from DataQuick’s for housing in each of Irvine’s ZIP codes. The DataQuick numbers are for single-family residences, condos, and new homes.

Up today is the 92602 ZIP, which includes the Northpark and West Irvine neighborhoods. The photo is of 63 Congress #10, which is a West Irvine home that is priced near the median selling price of homes in the 92602 ZIP.

Median Selling Price

• April 2010: $637,000 (down 1.2% y-o-y)
• March 2010: $634,250 (up 3.48% y-o-y)

Number of Sales

• April 2010: 24 (up 20.0% y-o-y)
• March 2010: 26 (up 30.00% y-o-y)

Note: Up next is 92603 ZIP, which includes Shady Canyon.Turtle Ridge, Turtle Rock, and Quail Hill.

109 Lamplighter, Irvine 92620 (Woodbury)

Following are DataQuick’s March 2010 median selling prices and number of sales for each of Irvine’s ZIP codes. If you scroll down the numbers, you will see that the housing market in Irvine is looking up at the moment.

92602

• March 2010 Median Selling Price: $634,250 (up 3.38%)
• March 2010 Number of Sales: 26 (up 30.00%)

92603

• March 2010 Median Selling Price: $847,500 (up 48.68%)
• March 2010 Number of Sales: 34 (up 70.00%)

92604

• March 2010 Median Selling Price:$525,000 (up 3.96%)
• March 2010 Number of Sales: 36 (up 89.47%)

92606

• March 2010 Median Selling Price: $613,000 (up 12.07%)
• March 2010 Number of Sales: 15 (up 25.00%)

92612

• March 2010 Median Selling Price: $430,000 (down 1.83%)
• March 2010 Number of Sales: 34 (up 100.00%)

92614

• March 2010 Median Selling Price: $525,000 (up 46.14%)
• March 2010 Number of Sales: 21 (up 61.54%)

92618

• March 2010 Median Selling Price: $602,500 (up 28.26%)
• March 2010 Number of Sales: 35 (up 483.33%)

92620

• March 2010 Median Selling Price: $637,500 (up 6.25%)
• March 2010 Number of Sales: 59 (up 156.52%)

Following are some Irvine housing number from Trulia. These numbers are for all Irvine homes (detached and condos). To see previous Redfin numbers for the Irvine housing market, see my past posts “The Irvine Detached Home Report” and “The Irvine Condo Report.” To see what the Altos Research Market Action Index, which covers detached home only, says about the Irvine housing market, see “The Irvine Housing Index Says….”

Based on 338 homes sold from March to May 2009 (down 37.3% from the same period one year ago), the Irvine median selling price was as follows:

Median Sold Price: $550,000

• up 2.8% from the previous quarter
• down 5.9% from the same period of the previous year
• down 5.2% when compared to the same period of 5 years ago

A comparison of the sold price to the list price, shows that the two numbers are not in the same ballpark: The average listing price for week ending June 3, 2009 was $962,442 ($330/SF). However, I should note that Trulia’s sold price is the median, and Trulia’s list price is the average.

The number of Irvine homes currently on the market according to Trulia breaks down as follows:

• number of homes on the market: 1854
• number of these homes  that are in distress*: 791
• 43% of Irvine homes on the market are in distress
  

Source: Trulia

*Distressed homes are defined as those that are in pre-foreclosure, trustee auction. or bank-owned stage of the foreclosure process.

Following are some Costa Mesa housing number from Trulia. These numbers are for all Costa Mesa homes (detached and condos). To see what the Altos Research Market Action Index says about the Costa Mesa housing market, see “The Costa Mesa Housing Index Says….” And to see previous Redfin numbers for the Costa Mesa housing market, see my past posts “The Costa Mesa Detached Home Report” and “The Costa Mesa Condo Report.”

The average listing price for week ending May 27, 2009 was $587,398 ($328/SF). Based on 204 homes sold from February to April 2009 (up 14% from the previous quarter), the Costa Mesa median selling price was as follows:

Median Sold Price: $465,000

• up 3.3% from the previous quarter
• down 12.3% from the same period of the previous year
• down 14.8% when compared to the same period of 5 years ago

The percent of Costa Mesa homes on the market that are currently in distress is as follows:

% of homes that are in distress*: 56%

• number of homes on the market: 789
• number of homes  that are in distress*: 438

Source: Trulia

*Distressed homes are defined as those that are in pre-foreclosure, trustee auction. or bank-owned stage of the foreclosure process.