Sweet Orange

Today is a continuation of our survey of DataQuick’s housing numbers for Irvine broken down by ZIP. Up today is the 92603 ZIP, which includes Shady Canyon, Turtle Ridge, Turtle Rock, and Quail Hill. The DataQuick numbers are for single-family residences, condos, and new homes.

The photo is of 32 Tall Hedge, which is a Turtle Ridge home that is priced near the median selling price of homes in the 92603 ZIP.

Median Selling Price

• April 2010: $1,420,000 (up 82.1%  y-o-y)
• March 2010: $847,500 (up 48.68% y-o-y)

Number of Sales

• April 2010: 23 (down 14.8% y-o-y)
• March 2010: 34 (up 70.00% y-o-y)

Note: Up next is the 92604 ZIP, which includes the upper Woodbridge and El Camino areas.

17 Alejo #60, Irvine (Turtle Rock)

Recently, I posted the January 2010 price per square foot information for Irvine’s 92602 ZIP (West Irvine and Northpark). Following is the January 2010 price per square foot, courtesy Redfn, for Irvine’s 92603 ZIP.

I provided the price per square numbers for  houses and condos in the 92603 ZIP, as well as the combined number (houses and condos). Two example of housing is this ZIP are 17 Alejo #60, Irvine in Turtle Rock and 53 Boulder View, Irvine in Shady Canyon.

53 Boulder View, Irvine (Shady Canyon)

92603 Median Price per Square Foot–January 2010 (Shady Canyon, Turtle Ridge, Turtle Rock, Quail Hill)

• house-$476 (up 6.7% from January 2009)
• condo-$327 (down 10.7 % from January 2009)
• both-$398 (down 0.4% from January 2009)

I will provide the price per square foot information for other Irvine’s ZIP codes in upcoming posts.

Following are some housing market numbers for Irvine. The 92603, 92604 and 92614 ZIPs are particularly interesting.

Note that the 92603 July asking price of $582 per square foot seems particularly unrealistic considering that the July selling price for the 92603 ZIP was $374 per square foot. The 92603 ZIP includes some of the most expensive homes in Irvine, including Irvine’s most expensive neighborhood, Shady Canyon. Other neighborhoods in Irvine’s 92603 include Quail Hill, Turtle Rock, and Turtle Ridge.

You might also want to pay special attention to the Woodbridge ZIPs: 92604 and 92614. As reported in the The Orange County Register, the increase in the percentage of Woodbridge foreclosures are some of the  highest in Orange County, especially in the 92604 ZIP. The 92604 ZIP includes the upper part of the Woodbridge neighborhood as well as the  El Camino neighborhood (See the map.)

According to DataQuick, Irvine’s July 2009 housing numbers by ZIP are as follows: ZIP/Median Selling Price/% change in price from previous month/# of homes sold/% change in number sold from previous month (DQNews).

Tomorrow: Irvine detached and condo stats

Yesterday, we looked at housing numbers for some homes in the Orangetree neighborhoods, one of Irvine’s most affordable, if not the most affordable, areas. A few detached homes exist in Orangetree, but most homes are condos. According to Redfin, the current list price for a condo in Orangetree is $262 per square foot.

Today, we’ll take a look at Shady Canyon, which is at the other end of the Irvine housing market. Shady Canyon is the most expensive Irvine neighborhood and, as you might expect, contains detached homes only. According to Redfin, the current median list price for a home in Shady Canyon is $727 per square foot.

Following are some stats on Shady Canyon homes that sold in the last three months. A look at previous selling price and price reductions in Shady Canyon show that even the most expensive areas are affected by the housing market downturn.

12 Prairie Grass: 3 bedrooms/4 baths, 40977 SF, built in 2003

• sold for $2,500,000 on May 18, 2009
• listed in August 2008, numerous price reductions
• sold for $3,200,000 on May 3, 2006

For more pictures of 12 Prairie Grass, click here.

94 Canyon Creek: 5 bedrooms/7 baths, 8057 SF, built in 2008

• sold for $4,300,000 on April 16, 2009
• listed in January 2009, numerous price reductions
• at one time listed for $4,750,000

For more pictures of 94 Canyon Creek, click here.

59 Boulder: 5 bedrooms/6 baths, 6853 SF, built in 2007

• sold for $4,125,000 on June 5, 2009
• listed in February 2008, numerous price reductions
• at one time listed for $4,895,000

For more pictures of 59 Boulder Creek, click here.

For a look at more Irvine Shady Canyon numbers, see “Irvine’s Most Expensive Neighborhood, Shady Canyon: Housing Number Stats.”

According to Redfin, in May, Shady Canyon, Irvine’s most expensive area, had 55 detached homes on the market.  The median list price was $4,700,000 or $740 per square foot.

Only one home sold in March; the sales price was $4,500,000. The median number of days it currently takes to sell a Shady Canyon home is 249.*

Seventy-two percent of the Shady Canyon homes that were sold or taken off the market between March 25th and June 23rd had price reductions. These homes had a median of two price reductions. The median percentage off the price was 16.9%.

Here are some additional Redfin stats for Shady Canyon:

April 3, 2009

• Median list price: $4,972K/$742 per SF
• Median sold price: $4,325K/NA per SF*
• Median days on market: 110*
• Number of homes on the market: 58

February 28, 2009

• Median  list price: $5,,000,000/$762 per SF
• Median sold price: $3,750K/NA per SF*
• Median days on market: 156*
• Number of homes on the market: 55

January 31, 2009

• Median  list price: $5,695K/$770 per SF
• Median  sold price: $4,914K/NA per SF*
• Median days on market: 154*
• Number of homes on the market: 39

December 30, 2008

• Median list price: $5,495K/$764 per SF
• Median sold price: $2,912K/NA per SF*
• Median days on market: 172*
• Number of homes on the market: 38

If you would like more information on housing in this area, see the Redfin Shady Canyon Real Estate page.

*Based on homes sold or taken off the market in the previous 90 days

GRAPH OF SHADY CANYON MEDIAN LIST PRICE COURTESY REDFIN

Related post: Housing Prices Declining in Shady Canyon, Irvine’s Most Expensive Neighborhood