Home sales drop in all but 2 Orange County ZIPs in record-slow spring – OCRegister

12August 2020

How crushing was coronavirus on Orange County’s springtime homebuying?

“Stay at home” organization restrictions, which made homeselling harder, cut Orange County overall home sales by 36% in a year to 6,067 in the 2nd quarter. It was the slowest spring for closed sales in DQ News’ database that dates to 1988.

My trusty spreadsheet informs me that just 2 of 83 Orange County’s ZIP codes tracked had more closed sales in the April-to-June duration vs. the same time in 2019: Stanton 90680 with 59 sales, up 28% in the year; and Vacation home Park’s 92861 with 18 houses offered, up 13%.

This sales slump did not effect rates as much as initially feared. In fact, the countywide typical asking price of $765,000 in June was actually up 1% from March and a record high.

In these three months, selling rates fell in 41 ZIPs. But price did not appear to drive purchasing patterns. The county’s 27 most affordable ZIPs collectively had 40% fewer sales vs. spring 2019. The 27 priciest ZIPs saw sales fall 35%.

The bottom line is that job losses and economic stress and anxieties scared off some home hunters and determined specific owners not to offer. A shortage of houses on the market added to a few of the drop in purchases. Pending sales data tracking current purchases in progress suggests a summertime purchasing rebound is underway.

Still, here’s a look at how spring treated the 83 ZIPs– noted in alphabetical order by the city classification for the ZIP tracking 2nd quarter sales; change from April-to-June 2019; typical asking price; and the change from March 2020. …

Aliso Viejo 92656: 141 offered, off 39% in April to June vs. a year previously; June’s typical of $540,750 was off 20% from March.

In Anaheim …

ZIP 92801: 46 offered, off 44% in year; typical of $495,000– off 16% from March.

• ZIP 92802: 30 offered, off 57% in year; typical of $520,000– off 13% from March.

• ZIP 92804: 88 offered, off 29% in year; typical of $565,500– off 8% from March.

• ZIP 92805: 83 offered, off 32% in year; typical of $582,500– off 0.1% from March.

• ZIP 92806: 36 offered, off 5% in year; typical of $631,000– off 6% from March.

• ZIP 92807: 97 offered, off 22% in year; typical of $721,500– off 6% from March.

• ZIP 92808: 67 offered, off 23% in year; typical of $703,000– off 2% from March.

In Brea …

ZIP 92821: 77 offered, off 21% in year; typical of $717,500– off 1% from March.

• ZIP 92823: 14 offered, off 39% in year; typical of $900,000– off 2% from March.

In Buena Park …

ZIP 90620: 59 offered, off 48% in year; typical of $665,000– up 4% from March.

• ZIP 90621: 37 offered, off 51% in year; typical of $622,500– up 5% from March.

In Costa Mesa …

ZIP 92626: 76 offered, off 36% in year; typical of $825,000– off 7% from March.

• ZIP 92627: 101 offered, off 40% in year; typical of $822,500– off 1% from March.

Cypress 90630: 72 offered, off 38% in year; typical of $737,500– up 14% from March.

In Dana Point …

ZIP 92624: 20 offered, off 39% in year; typical of $2,863,000– up 139% from March.

• ZIP 92629: 90 offered, off 36% in year; typical of $1,087,500– up 16% from March.

Foothill Ranch 92610: 54 offered, off 21% in year; typical of $760,000– off 5% from March.

Fountain Valley 92708: 87 offered, off 36% in year; typical of $850,000– off 3% from March.

In Fullerton …

ZIP 92831: 48 offered, off 31% in year; typical of $592,000– off 9% from March.

• ZIP 92832: 36 offered, off 20% in year; typical of $587,500– up 0.4% from March.

• ZIP 92833: 68 offered, off 48% in year; typical of $650,000– up 1% from March.

• ZIP 92835: 52 offered, off 52% in year; typical of $743,500– off 2% from March.

In Garden Grove …

ZIP 92840: 75 offered, off 34% in year; typical of $682,000– up 21% from March.

• ZIP 92841: 26 offered, off 58% in year; typical of $715,000– up 6% from March.

• ZIP 92843: 37 offered, off 40% in year; typical of $431,500– off 31% from March.

• ZIP 92844: 28 offered, off 35% in year; typical of $425,000– off 21% from March.

• ZIP 92845: 29 offered, off 54% in year; typical of $749,000– up 9% from March.

In Huntington Beach …

ZIP 92646: 117 offered, off 35% in year; typical of $850,000– up 3% from March.

• ZIP 92647: 73 offered, off 31% in year; typical of $786,500– off 6% from March.

• ZIP 92648: 103 offered, off 32% in year; typical of $1,044,000– up 9% from March.

• ZIP 92649: 72 offered, off 33% in year; typical of $895,000– up 1% from March.

In Irvine …

ZIP 92602: 113 offered, off 25% in year; typical of $1,300,000– up 7% from March.

• ZIP 92603: 43 offered, off 37% in year; typical of $970,000– off 42% from March.

• ZIP 92604: 38 offered, off 43% in year; typical of $811,500– up 2% from March.

• ZIP 92606: 19 offered, off 54% in year; typical of $815,000– off 8% from March.

• ZIP 92612: 44 offered, off 67% in year; typical of $686,500– up 9% from March.

• ZIP 92614: 58 offered, off 11% in year; typical of $820,500– up 5% from March.

• ZIP 92618: 244 offered, off 34% in year; typical of $920,000– flat vs. March.

• ZIP 92620: 98 offered, off 49% in year; typical of $954,500– off 1% from March.

Ladera Ranch 92694: 213 offered, off 23% in year; typical of $850,000– up 8% from March.

La Habra 90631: 107 offered, off 40% in year; typical of $635,000– up 19% from March.

La Palma 90623: 20 offered, off 26% in year; typical of $720,500– off 9% from March.

Laguna Beach 92651: 73 offered, off 38% in year; typical of $1,915,000– off 0.2% from March.

Laguna Hills 92653: 68 offered, off 41% in year; typical of $897,500– up 23% from March.

Laguna Niguel 92677: 188 offered, off 39% in year; typical of $799,500– off 8% from March.

Laguna Woods 92637: 60 offered, off 43% in year; typical of $321,500– off 8% from March.

Lake Forest 92630: 150 offered, off 30% in year; typical of $700,000– flat vs. March.

Los Alamitos 90720: 40 offered, off 40% in year; typical of $875,000– off 12% from March.

Midway City 92655: 7 offered, off 53% in year; typical of $700,000– up 12% from March.

In Objective Viejo …

ZIP 92691: 124 offered, off 34% in year; typical of $728,000– up 3% from March.

• ZIP 92692: 156 offered, off 27% in year; typical of $700,000– off 5% from March.

In Newport Beach …

ZIP 92660: 86 offered, off 48% in year; typical of $1,681,500– up 2% from March.

• ZIP 92661: 12 offered, off 33% in year; typical of $2,385,000– off 6% from March.

• ZIP 92662: 5 offered, flat in year; typical of $2,787,500– off 14% from March.

• ZIP 92663: 57 offered, off 10% in year; typical of $1,189,250– off 39% from March.

• ZIP 92657: 35 offered, off 47% in year; typical of $2,400,000– off 26% from March.

Corona del Mar 92625: 56 offered, off 18% in year; typical of $2,625,000– off 4% from March.

In Orange …

ZIP 92865: 49 offered, off 31% in year; typical of $755,000– up 16% from March.

• ZIP 92866: 16 offered, off 38% in year; typical of $735,000– up 3% from March.

• ZIP 92867: 67 offered, off 33% in year; typical of $737,500– off 2% from March.

• ZIP 92868: 23 offered, off 48% in year; typical of $550,000– off 4% from March.

• ZIP 92869: 84 offered, off 29% in year; typical of $655,250– off 4% from March.

Placentia 92870: 83 offered, off 45% in year; typical of $680,000– off 6% from March.

Rancho Santa Margarita 92688: 142 offered, off 29% in year; typical of $665,000– up 7% from March.

In San Clemente …

ZIP 92672: 104 offered, off 37% in year; typical of $1,011,000– off 4% from March.

• ZIP 92673: 104 offered, off 43% in year; typical of $1,050,000– up 18% from March.

San Juan Capistrano 92675: 109 offered, off 34% in year; typical of $1,070,000– up 17% from March.

In Santa Ana …

ZIP 92701: 39 offered, off 37% in year; typical of $300,000– off 41% from March.

• ZIP 92703: 20 offered, off 64% in year; typical of $575,000– up 11% from March.

• ZIP 92704: 40 offered, off 64% in year; typical of $550,000– up 24% from March.

• ZIP 92705: 75 offered, off 48% in year; typical of $1,090,000– up 8% from March.

• ZIP 92706: 49 offered, off 17% in year; typical of $730,000– up 4% from March.

• ZIP 92707: 42 offered, off 26% in year; typical of $497,500– off 6% from March.

Seal Beach 90740: 39 offered, off 33% in year; typical of $1,070,000– up 7% from March.

Stanton 90680: 59 offered, up 28% in year; typical of $525,000– up 15% from March.

Trabuco/Coto 92679: 128 offered, off 35% in year; typical of $975,000– up 19% from March.

In Tustin …

ZIP 92780: 89 offered, off 34% in year; typical of $702,000– up 19% from March.

• ZIP 92782: 94 offered, off 2% in year; typical of $779,000– off 18% from March.

Vacation home Park 92861: 18 offered, up 13% in year; typical of $1,810,000– up 49% from March.

Westminster 92683: 92 offered, off 33% in year; typical of $700,000– flat vs. March.

In Yorba Linda …

ZIP 92886: 149 offered, off 30% in year; typical of $880,000– up 5% from March.

• ZIP 92887: 71 offered, off 10% in year; typical of $872,000– up 8% from March.

PS: How some essential market niches fared in the spring vs. 2019 …

Existing home resales: 3,822 offered April to June, off 37% in year; June typical of $830,000– flat vs. March.

Existing condominium resales: 1,636 offered, off 36% in year; typical of $539,000– off 0.1% from March.

All brand-new houses: 609 offered, off 28% in year; typical of $983,500– off 6% from March.

Source: ocregister.com

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