It’s looks like a hot summer for Orange County real estate’s upper crust.
Sales trends in pricier niches stood out in the CoreLogic local homebuying report for the 22 business days ending Aug. 15:
• In the 27 priciest ZIP codes – median sales price beginning at $730,000 – sales were up 18.2 percent vs. a year ago. Compare that surge with sales in the 27 least expensive ZIPs – median sales price at $575,000 and below: down 5.4 percent compared with a year ago.
• Builder sales – often the priciest slice of the market – were 349, up 54.4 percent from a year ago. Median selling price was $756,250 – down 6.2 percent from a year ago.
• In the nine Orange County ZIP codes with median selling prices above $1 million, sales totaled 252 homes, up 21.15 percent compared with a year ago. The most expensive ZIP code was Newport Beach 92662 with a median selling price of $3.85 million.
Overall, 3,619 Orange County residences sold in the period, up 4.2 percent from a year ago. Sales rose in 46 of 83 local ZIPs compared with the year-ago period.
Orange County’s median selling price for all residences was $645,000 – up 5.7 percent compared to a year ago. Prices were up in 58 of 83 local ZIP codes compared with the previous year.
As for other slices of the Orange County market:
• Single-family home resales totaled 2,237 – up 0.5 percent from a year ago. Median selling price was $707,500 – up 5.5 percent from a year ago.
• Resales of condos were 1,033 – up 1.3 percent from a year ago. Median selling price was $469,000 – up 7.8 percent from a year ago.
Contact the writer: jlansner@scng.com
Also see:
5 reasons O.C. homes cost triple U.S. prices
Hot summer for O.C. homebuilders: Sales soar 69% vs. 2015
7 trends driving California’s cooling housing market in July
