Orange County real estate’s upper crust got off to a fast start in January.
For the 22 business days ending Jan. 9, 3,297 Orange County residences sold in the period, up 5.2 percent from a year earlier, CoreLogic reported.
Sales, however, rose in only 41 of 83 Orange County ZIPs compared with the year-ago period.
Three benchmarks of buying activity show strength in pricier markets:
• In the 27 priciest ZIP codes – with a median sales price beginning at $732,500 – 1,278 homes sold. That’s up 20.6 percent compared with a year earlier. In the 27 least expensive ZIPs – with a median sales price at $574,000 and below – 861 homes sold, up only 0.3 percent.
• In the 10 Orange County ZIP codes with median selling prices above $1 million, sales totaled 258 homes, up 11.21 percent compared with a year earlier. In this period last year, there were 8 million-dollar ZIPs.
• Builder sales were 648 – up 20.2 percent from a year earlier. The median sales price in this segment was $853,000 – up 0.6 percent from a year earlier.
As for pricing, Orange County’s overall median sale price for all residences was $663,000 – up 6.1 percent compared with a year earlier. That gain might be more due to pricier products selling rather than widespread appreciation. Prices were up in 52 of 83 ZIPs compared with the previous year.
Other highlights of the report:
• Single-family home sales totaled 1,836 – up 5.7 percent from a year earlier. Median selling price was $700,000 – up 6.1 percent.
• Resales of condos were 813 – down 5.1 percent from a year earlier. Median selling price was $434,500 – up 1.9 percent.
• The most expensive ZIP code was Newport Coast 92657 with a median selling price of $3.37 million. Cheapest? Midway City 92655 at $257,500.
Contact the writer: jlansner@scng.com
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