Lanser of OC Register is reporting on the slump of OC, saying middle of OC has biggest slump right now...even the "hot spots", zips near the beach had a y-o-y median price decline of 4.4% despite an increase in sales of 2.9%....
South-inland cities median prices falling off a cliff with y-o-y median price decline of 12.3%...stunning!
But I must say it doesn't look like the numbers quite add up...
North Inland median price -10% y-o-y
Mid-County -4.1% y-o-y
Beach Towns-4.4% y-o-y
South Inland-12.3% y-o-y
Yet the median selling price for all residences is -1.2% y-o-y....something seems wrong with the math...seems like the median y-o-y decline should be in the -7% range...am I missing something?
http://www.ocregister.com/articles/county-338934-o
Orange County housing hot spots are near the beach.
For the 22 business days ending Jan. 19 -- freshest numbers from DataQuick -- our region-by-region analysis of local real estate trends finds Orange County homebuying slicing up by geography this way …
- North Inland: 538 homes sold in these Orange County ZIP codes in this most recent period, -5.8% from a year ago. Median selling price? $396,250 in these 22 ZIPs. This most recent median price change was -10.0% in a year. North Inland accounted for 29% of recent home sales vs. 32% a year ago.
- Mid-County: These ZIPs -- median selling price $344,750 -- had 663 sales, -14.3% from a year ago. This was largest year-to-year drop among the four regions. In these 25 ZIPs, the median price change was -4.1% in a year. Mid-County accounted for 23% of recent home sales vs. 23% a year ago.
- Beach Towns: 422 homes sold in these ZIP codes in the most recent period, +2.9% from a year ago. This was largest year-to-year gain among the four regions. Median selling price? $588,000 in these 17 ZIPs. Median price change was -4.4% in a year. Beach Towns accounted for 18% of recent home sales vs. 17% a year ago.
- South Inland: These ZIPs -- median selling price $421,000 -- had 684 sales, +0.7% from a year ago. In these 19 ZIPs, median price change was -12.3% in a year. South Inland accounted for 30% of recent home sales vs. 28% a year ago.
Other analysis:
- Broken down another way, total homes sales in ZIPs in the north and mid-section of Orange County were -10.7% vs. a year ago as homebuying the rest of the county ran +1.6% vs. 12 months earlier.
- All told, countywide sales were -5.4% vs. a year ago. The median selling price was $400,000 for all residences sold in this period. That's -1.2% in the past year. Note: 137 sales -- 6% of all sales -- were not included in the regional analysis because ZIP location could not be determined.
