Sweet Orange

13711 Andele Way, Irvine (Northwood)

Today is a continuation of our survey of DataQuick’s housing numbers for Irvine broken down by ZIP. Up today is the 92620 ZIP, which includes Northwood, Northwood Pointe, Northwood II, and Woodbury. The DataQuick numbers are for single-family residences, condos, and new homes.

The photo is of 13711 Andele Way, which is a single-family home in Irvine’s Northwood neighborhood that is priced near the median selling price for  homes in the 92620 ZIP. The asking price is $685,000. At $303 per square foot and with no Mellos Roos tax or HOA fee, this four-bedroom home is reasonably priced for this area.

92620 Median Selling Price

• May 2010: $666,000 (down 2.1% y-o-y)
• April 2010: $605,000 (up 10.0% y-o-y)
• March 2010: $637,500 (up 6.25% y-o-y)

92620 Number of Sales

• May 2010: 48 (down 9.4% y-o-y)
• April 2010: 50 (up 78.6% y-o-y)
• March 2010: 59 (up 156.52% y-o-y)

Portola is one of the three districts into which the Irvine police department has divided the City for its geopolicing program.

To see pricing, inventory and additional information for the various villages in Irvine’s Portola district, click on the links provided below. This will bring you to Redfin’s Community Overview Page for that village (if you prefer, you can also enter zip codes or city names).

The Portola Area includes the following Irvine neighborhoods, or as they are called in Irvine, villages:

• Northwood (includes Northwood Point)
• North Park (includes North Park Square)
• Oak Creek
• Orangetree
• West Irvine (92602 ZIP code includes West Irvine and North Park)
• East Irvine
• Old Towne Irvine
• Woodbury
• Woodbury East
• Great Park Neighborhood-Heritage Fields
• Portola Springs
• Orchard Hills

Note: The Irvine Spectrum is also in the Portola geopolicing district.

Here is a look at some Woodbury condos that are listed for under $300,000. The bad news is that these are all short sales. (Sales transactions for short sales are difficult to complete, and the price might be bid up before a final sale is made.)

In fact, many of Woodbury’s two-bedroom condos that are on the market are short sales. For that matter, many of the homes in Woodbury are short sales.

To check for yourself, see the map of Woodbury homes currently on the market.

40 Concierto, Irvine

• 2 beds/2baths, 1146 SF
• HOA fees: master–$152; sub–$105
• $275,000 ($240/SF)

17 Costa Brava, Irvine

• 2 beds/2baths, 1000 SF
• HOA fees: master–$105; sub–$93
• $290,000 ($290/SF)

3 Costa Brava, Irvine

• 2 beds/2baths, 1075 SF
• HOA fees: master–$105; sub–$93
• $299,900 ($279/SF)

Related posts:

• Comparing Prices: Three-Bedroom Woodbury Condos vs Three-Bedroom Woodbury East Ivy Condos
• Market Watch: Housing Stats for Irvine’s Woodbury Neighborhood

Here is a look at some three-bedroom Woodbury condos that are similar in size to three-bedroom condos that will soon be available in phase two of  Irvine’s new neighborhood of  Ivy. Ivy is part of the Woodbury East development that is near Woodbury (a nearby but different development) and will have two and three-bedroom condo for sale. Next phase of Ivy sales will be August 1.

If you compare the Woodbury prices to the Woodbury East prices, future Woodbury sellers might have to lower their selling price to compete with these newer homes.

The Irvine Company’s current prices for these Ivy three-bedrooms is in the mid- $300,000s to low-$400,000s. IrvineRenter has the current Ivy price per square foot at $280 to $295. (Two-bedroom options will also be available in Ivy. Of course, they will be a smaller size and lower price.)

On the other hand, phase one of the Ivy sale was so successful that I would not be surprised if upcoming phases had some higher list prices. This would have a moderating affect on the necessity of price slashes in Woodbury.

Compare the Woodbury East Ivy prices for three-bedroom condos with recent selling prices in Woodbury:

49 Regal  # 143, Woodbury, Irvine  CA 92620

• 3 beds, 3 baths
• 1,552 sq ft
• Sold for: $510,000 ($328/SF)
  
• Sold on: 06/12/2009
  

155 Sanctuary, Woodbury, Irvine, CA  92620

• 3 beds, 3 baths
• 1,550 sq ft
• On March 30, listed for $529,900
• Sold for: $505,000 ($326/SF)
  
• Sold on: 06/11/2009

153 Sanctuary, Woodbury, Irvine CA 92620

• 3 beds, 3 baths
• 1,635 sq ft
• Recently listed for: $569,900
• Sold for: n/a (however, will probably show up in the public record within a month)

More information:

• For a look at what is currently available in Woodbury East’s Ivy development, click here.
• For a look at what is currently available in Woodbury, click here.

Related posts:

• Market Watch: Housing Stats for Irvine’s Woodbury Neighborhood
• Ivy. an Irvine Woodbury East Development, Opens with Smaller, More Affordable Housing Options
• Pros and Cons of New Irvine Development: Ivy, a Woodbury East Neighborhood

GRAPHS , COURTESY REDFIN, ARE OF WOODBURY’S HOUSING INVENTORY, DETACHED HOME MEDIAN LIST PRICE PER S/F, CONDO MEDIAN LIST PRICE PER S/F

Woodbury is one of Irvine’s newer areas.  According to Redfin, in June, Woodbury had 65  homes on the market (16 detached homes and 49 condos).  The median list price was $590,000 or $342 per square foot.

In April, five homes sold with a median selling price of $550,000. The median number of days on market for a Woodbury home is 58.*

Twenty-one percent of the Woodbury homes that were sold or taken off the market between April 28th and July 27th had price reductions. These homes had a median of one price reduction. The median percentage off the price was 9.3%.

Found below are some additional Redfin stats for Irvine’s Woodbury neighborhood.

Note: Woodbury is near the even newer neighborhood of Woodbury East. Woodbury East’s Ivy neighborhood is the new, small condo area (approximately 1100 SF to 1500 SF) that sold out phase one in under an hour of the July 11 grand opening. For some commentary on the affect that pricing in Woodbury East will have on Woodbury prices, see IrvineRenter’s post “Revaluing Woodbury.”

April 4, 2009

• List price: $639K/$356 per SF
• Sold price: $580K/NA per SF*
• Median days on market: 46*
• Number of homes on the market: 48
  (14 detached/34 condos)

February 28, 2009

• List price: $712,000/$357 per SF
• Sold price: $530K/NA per SF*
• Median days on market: 84*
• Number of homes on the market: 36
  (14 detached/22 condos)

January 31, 2009

• List price: $699,000/$357 per SF
• Sold price: $530K/NA per SF*
• Median days on market: 83*
• Number of homes on the market: 35

December 30, 2008

• List price: $650,000/$357 per SF
• Sold price: $569K/NA per SF*
• Median days on market: 89*
• Number of homes on the market: 27

For more information on housing in Woodbury, see Redfin’s Woodbury map.

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

Source: Redfin