Sweet Orange

The photo is of 463 East Yale Loop #29, which is located in the lower Woodbridge area and is priced near the median selling price of homes in the 92614 ZIP. The overall selling price for this home is $599,000; however, at $260 per square foot, this is one of the most reasonably priced homes in this ZIP.

Appraisals for 463 East Yale Loop #29: Low/Medium/High (Source: Redfin)

• Zillow: $590,070/$663,000/$716,040
• Eppraisal:$568,162/$668,427/$768,691
• Cyberhomes: n/a

Up next: the 92606 ZIP, which includes Walnut, Columbus Grove, and part of the Westpark neighborhood

462 East Yale Loop, Irvine (Lower Woodbridge)

Today is a continuation of our survey of DataQuick’s housing numbers for Irvine broken down by ZIP. Up today is the 92614 ZIP, which includes lower Woodbridge and part of Westpark. The DataQuick numbers are for single-family residences, condos, and new homes.

Median Selling Price

• April 2010: $591,000 (up 45.9% y-o-y)
• March 2010: $525,000 (up 46.14% y-o-y)

Number of Sales

• April 2010: 25 (up 25.0% y-o-y)
• March 2010: 21 (up 61.54% y-o-y)

Up next is information on a lower Woodbridge home (463 East Yale Loop #29) that is listed near the median selling price for this ZIP.

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

Here are the some recent numbers for Costa Mesa by ZIP. The 92626 ZIP includes South Coast Metro, part of Central and Mesa Verde. The 92627 ZIP includes Eastside, Southwest and part of Central Costa Mesa.

DataQuick March 2010 Median Selling Price

• 92626: $515,000 (up 12% from March 2009)
• 92627: $467,500 (up 24.7% from March 2009)

DataQuick March 2010 Number of Sales

• 92626: 32 (down 22.0% from March 2009)
• 92627: 36 (up 24.1% from March 2009)

Redfins’s January 2010 Median Price per Square Foot

92626:

• house–$310 (up 1.6 from January 2009)
• condo–$242 (down 4.7%  from January 2009)
• both–$275 (down 2.1%  from January 2009)

92627:

• house–$346 (up 0.7 from January 2009)
• condo–$275 (down 10.1 from January 2009)
• both–$312 (down 2.4 from January 2009)

Sources: DataQuick, Redfin

Graphic of the Performing Arts Center in the South Coast Metro area of Costa Mesa Courtesy Costa Mesa Conference and Visitor Bureau

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

Which homesellers are more grounded in reality, Costa Mesa or Irvine homesellers? Take a look at the following numbers and decide for yourself. Keep in mind that the median and average are not the same.* If you want to check out the reality gap for your ZIP, see the Trulia ZIP code list.

Redfin graph for the median price per SF for Irvine single-family houses**

Irvine

• Average list price: $927,077 (week ending September 30)
• Median sales price: $560,000 (July 2009 through September 2009)
  Source: Trulia

To clarify further, Redfin shows that the September median list price in Irvine was $615,000, and DQNews shows that the September median selling price for a home in Irvine was $533,000.

Redfin graph for the median price per SF for Costa Mesa single-family houses**

Costa Mesa

• Average list price: $581,194 (week ending September 30)
• Median sales price: $515,000 (July 2009 through September 2009)
  Source: Trulia

To clarify further, Redfin shows that the September median list price in Costa Mesa was $467,000, and DQNews shows that the September median selling price for a home in Costa Mesa was $485,000.

Redfin graph for September Orange County single-family house price/SF**

Finally, for comparison, some Orange County September housing numbers: Redfin shows that the September median list price  was $515,000, and DQNews shows that the September median selling price was $428,000.

When comparing homesellers in Irvine, Costa Mesa and Orange County as a whole, it seems that Costa Mesa homesellers get the most-in-touch-with-reality award.

*Do not confuse this term [median) with the [term] average. They can be quite different for the same sample group. For instance, if you are doing a sold properties report and the homes are very evenly distributed, the median and average might be very similar. However, if the homes sold were weighted more to one end or the other of the price spectrum, then the median and average could be quite different.-About.com: Real Estate Business

**The above graphs are for single-familly houses. To see the the condo price per square foot graph for each area. click on the Redfin links found on this page. Then click on the “Add graph to your site” link.

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 hones 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.

Following are some recent Altos Research and Redfin numbers for the North Orange County housing market.

Summary: In general, according to the Altos Research index numbers, the housing market is improving in North Orange County. However, the housing markets for all North Orange County cities are still buyers’ markets. Then again, Garden Grove and Stanton, which have Altos index numbers just shy of 30, are approaching a sellers’ market. As has been true for some time, the low-end of the housing market in North Orange County is doing better than the high-end.

Anaheim: Approximate % homes on market that are detached: 70%

• Altos Research median list price:
  October 18, 2009: $374,408
  August 16,2009: $364,232
• Altos Research Market Action Index:
  October 18, 2009: 26.24
  August 16, 2009: 22.19
  July 5, 2009: 23.69
• Redfin median sold price:
  September 2009: house–$241/SF; condo–$217/SF

Brea: Approximate % homes on market that are detached: 90%

• Altos Research median list price:
  October 18, 2009: $551,288
  August 16,200: $550,327
• Altos Research Market Action Index:
  October 18, 2009: 19.98
  August 16, 2009: 16.57
  July 5, 2009: 20.14
• Redfin median sold price:
  September 2009: house–$271/SF; condo–$207/SF

Buena Park: Approximate % homes on market that are detached: 85%

• Altos Research median list price:
  October 18, 2009: $363,731
  August 16,2009: $357,945
• Altos Research Market Action Index:
  October 18, 2009: 26.23
  August 16, 2009: 21.09
  July 5, 2009: 23.32
• Redfin median sold price:
  September 2009: house–$266/SF; condo–$174/SF

Cypress: Approximate % homes on market that are detached: 70%

• Altos Research median list price:
  October 18, 2009: $532,196
  August 16,200: $502,327
• Altos Research Market Action Index:
  October 18, 2009: 22.57
  August 16, 2009: 20.12
  July 5, 2009: 25.82
• Redfin median sold price:
  September 2009: house–$276/SF; condo–$217/SF

Fullerton: Approximate % homes on market that are detached: 80%

• Altos Research median list price:
  October 18, 2009: $561,908
  August 16,2009: $545,955
• Altos Research Market Action Index:
  October 18, 2009: 21.24
  August 16, 2009: 18.90
  July 5, 2009: 21.41
• Redfin median sold price:
  September 2009: house–$248/SF; condo–$208/SF

Garden Grove: Approximate % homes on market that are detached: 80%

• Altos Research median list price:
  October 18, 2009: $377,958
  August 16,200): $376,622
• Altos Research Market Action Index:
  October 18, 2009: 29.34
  August 16, 2009: 26.00
  July 5, 2009: 27.56
• Redfin median sold price:
  September 2009: house–$280/SF; condo–$214/SF

La Habra: Approximate % homes on market that are detached: 70%

• Altos Research median list price:
  October 18, 2009: $481,831
  August 16,2009): $508,236
• Altos Research Market Action Index:
  October 18, 2009: 22.75
  August 16, 2009: 21.56
  July 5, 2009: 21.64
• Redfin median sold price:
  September 2009: house–$241/SF; condo–$142/SF

La Palma: Approximate % homes on market that are detached: 80%

• Altos Research median list price:
  October 18, 2009: $581,795
  August 16,2009): $606,200
• Altos Research Market Action Index:
  October 18, 2009: 21.99
  August 16, 2009: 18.77
  July 5, 2009: 18.65
• Redfin median sold price:
  September 2009: n/a

Placentia: Approximate % homes on market that are detached: 75%

• Altos Research median list price:
  October 18, 2009: $526,823
  August 16,2009): $527,559
• Altos Research Market Action Index:
  October 18, 2009: 20.33
  August 16, 2009: 18.14
  July 5, 2009: 20.49
• Redfin median sold price:
  September 2009: house–$252/SF; condo–$126/SF

Stanton: Approximate % homes on market that are detached: 65%

• Altos Research median list price:
  October 18, 2009: $314,192
  August 16,2009: $309,736
• Altos Research Market Action Index:
  October 18, 2009: 29.45
  August 16, 2009: 25.48
  July 5, 2009: 23.67
• Redfin median sold price:
  September 2009: house–$238/SF; condo–$200/SF

Westminster: Approximate % homes on market that are detached: 85%

• Altos Research median list price:
  October 18, 2009: $451,135
  August 16,2009) $451,536
• Altos Research Market Action Index:
  October 18, 2009: 27.03
  August 16: 23.12
  July 5, 2009: 27.83
• Redfin median sold price:
  September 2009: house–$274/SF; condo–$202/SF

Yorba Linda: Approximate % homes on market that are detached: 80%

• Altos Research median list price:
  October 18, 2009: $772,069
  August 16,2009: $804,377
• Altos Research Market Action Index:
  October 18, 2009: 17.42
  August 16, 2009: 15.00
  July 5 2009: 17.88
• Redfin median sold price:
  September 2009: house–$248/SF; condo–$260/SF

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).

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