Orange County Adds 15 Million $ ZIPs, Loses 22 “Good” Neighborhoods – Orange County Register

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The number of $ 1 million Orange County neighborhoods increased by 15 in the year ending July, as the pandemic-era shopping spree removed 22 postcodes ” affordable ”- those with median selling prices below $ 666,667.

My trusty spreadsheet, filled with Orange County home buying statistics from DQNews / CoreLogic, revealed that 29 of the 83 county zip codes had median selling prices above $ 1 million compared to 14 a year ago. earlier. Yes, that means 35% of county ZIPs have seven-digit medians.

By my calculations, there are only eight zip codes left with prices below what I set as a benchmark for a “reasonable” value: a median below $ 666,667. Yes, that’s a lot of money. But in early 2017, that same $ 666,667 bought you a mid-priced home in Orange County.

Why? Blame the pandemic-era home buying frenzy created by low mortgage rates, few homes for sale, and thirst for larger living space. The county-wide median was $ 904,000 in July, up 16.6% in one year. That’s a price gain of $ 128,700 in 12 months.

The buying spree has resulted in the closure of 3,612 county-wide sales of single-family homes and new and existing condos. That’s 5% more in a year.

The increase also meant that 55 of Orange County’s 83 zip codes had price gains in excess of $ 100,000. Overall, prices increased in 78 of the 83 ZIPs.

In those seven-figure communities, 1,430 purchases were made last month, or 40% of all homes sold across the county. In July of last year, 502 homes were sold in ZIP with medians of over $ 1 million, or 15% of all deals.

At the other end of the price spectrum, Orange County’s eight “bargain” communities with medians of $ 666,667 and under fell 22 from 30 in July 2020, or 73% of ZIP in less. July sales in these areas totaled 200, making “good deals” 5.5% of all purchases. In July 2020, 890 homes were sold in these ZIPs, or 25.9% of all sales.

By the way, the previous month there were 26 million dollar ZIPs and eight affordable communities. And as of July 2019, there were 16 seven-digit ZIPs and 28 under $ 666,667.

Here are the new ZIP Million Dollar Club Members of the Year for July …

San Clemente 92672: $ 1.39 million – up 41%.

Los Alamitos 90720: $ 1.35 million – up 59%.

Trabuco / Coto 92679: $ 1.27 million – up 32%.

Huntington Beach 92648: $ 1.27 million – up 32%.

Brea 92823: $ 1.26 million – up 47%.

Santa Ana 92705: $ 1.21 million – up 27%.

Yorba Linda 92886: $ 1.19 million – up 45%.

San Juan Capistrano 92675: $ 1.16 million – up 31%.

Irvine 92620: $ 1.15 million – up 27%.

San Clemente 92673: $ 1.14 million – up 15%.

Irvine 92618: $ 1.14 million – up 19%.

Niguel Lagoon 92677: $ 1.03 million – up 29%.

Costa Mesa 92627: $ 1.02 million – up 13%.

Huntington Beach 92649: $ 1.01 million – up 13%.

Irvine 92606: $ 1.01 million – up 16%.

Costa Mesa 92626: $ 1 million – up 19%.

The other seven-digit cities …

Newport Beach 92661: $ 3.9 million – up 16%.

Newport Beach 92662: $ 3.85 million – up 55%.

Newport Coast 92657: $ 3.71 million – up 32%.

Crown of Mar 92625: $ 2.79 million, or 7% reduction.

Lagoon Beach 92651: $ 2.3 million – up 13%.

Newport Beach 92660: $ 2.2 million – up 4%.

Park of Villas 92861: $ 1.9 million – up 37%.

Pointe Dana 92624: $ 1.74 million – up 26%.

Newport Beach 92663: $ 1.64 million – up 4%.

Irvine 92602: $ 1.49 million – up 21%.

Irvine 92603: $ 1.44 million – up 13%.

Seal beach 90740: $ 1.33 million – up 21%.

Pointe Dana 92629: $ 1.31 million, or 19% off.

And Orange County ZIPs of less than $ 666,667 in July …

Orange 92868: $ 647,000 – up 39%.

Santa Ana 92703: $ 631,000 – up 17%.

Santa Ana 92707: $ 590,000 – up 3%.

Grove garden 92844: $ 557,500 – up 5%.

Stanton 90680: $ 557,500 – up 8%.

Santa Ana 92704: $ 507,500 – 13% discount.

Bois de la Lagune 92637: $ 389,000 – up 4%.

Santa Ana 92701: $ 346,000 – up 19%.

PS: Monthly sales data for individual zip codes can be volatile, so price data can reflect a different mix of homes sold – without changing values. Data for all Orange County ZIPs are available at bit.ly/julyocprices

Jonathan Lansner is the business columnist for the Southern California News Group. He can be contacted at [email protected]


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