Brea homebuying wilts, sales dip 11.8% in summer – Orange County Register

Homebuying in Brea in the third quarter could not keep pace with countywide sales activity.

Using CoreLogic data, we compared sales patterns for all residences in the July-to-September period vs. the year-ago period. Sales in Brea fell as 157 residences were purchased this year vs. 178 a year ago. That’s a loss of 11.8 percent vs. an increase of 2.2 percent countywide.

Neighborhood trends in Brea for the summer quarter from CoreLogic’s report:

Brea ZIP code 92821 — 121 homes sold vs. 148 a year ago. That’s a sales loss of 18.2 percent. Median selling price of $675,000 vs. $652,174 last year, a gain of 3.5 percent. That median ranked No. 46 highest out of 83 Orange County ZIPs.

Brea ZIP 92823 — 36 homes sold vs. 30 a year ago. That’s a sales gain of 20 percent. Median of $790,000 vs. $655,058 last year, a gain of 20.6 percent. That median ranked No. 24 highest out of 83.

Eight countywide trends from the summer quarter vs. 2016:

1. Prices were up in 75 of 83 Orange County ZIP codes compared to the previous year.

2. Sales rose in 38 of 83 ZIPs vs. year-ago period.

3. Builder sales were up 16.7 percent from a year ago.

4. In the 27 least expensive ZIP codes — median sales price at $610,000 and below — sales fell 1.9 percent compared to a year ago.

5. In the 27 priciest ZIPs — median sales price beginning at $775,000 and higher — sales rose 10.7 percent vs. a year ago.

6. In the nine Orange County ZIP codes with median above $1 million, sales totaled 693 homes, up 3.27 percent vs. a year ago.

7. In the county’s 16 beach-close ZIP codes, sales rose 7 percent vs. a year ago.

8. Seven ZIPs with median prices under $500,000 had total sales of 553 homes. A year ago, 11 ZIPs had medians under $500,000 with 967 sales. That’s a drop of 43 percent in a year.

How much Orange County housing can you buy for $350,000?

SEE: $350,000 new home in Orange County? It’s in the works in Rancho Mission Viejo

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