The median price for single-family, re-sale homes in Orange County climbed to its highest level since last August in July. Year-over-year, the median price was down 4.9%.
Home sales were up 8.5% from June, and up 9.3% compared to last July. This is the thirteenth month in a row home sales have been higher than the year before, and the 2,119 re-sale homes sold were the highest number of sales since December 2006. Year-to-date, home sales are up 25.3%.
Orange County condo sales rose 2.7% from June, and were up 24.6% year-over-year. Year-to-date, condo sales are up 52.7%. The median price fell 8.3%. Year-over-year, the median price was down 14.3%.
Sales of new homes were down 13.5% in July, a drop of 17.6% year-over-year. The median price rose 13.1% month-over-month, but was down 9.5% year-over-year. We expect new home sales and prices to rebound due to the federal tax credit of $8,000, which expires October 31, 2009.
Comprehensive statistical tables are on page two.
A complete set of charts for each city we cover is also available by clicking on the city in the City Trends section to the bottom right.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood, call me.
If we can help you devise a strategy, call or click buyer or seller.
For our statistical tables, click next page.
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Tables and Charts
The tables on the second page provide a snapshot of the Orange County real estate market.
The first table shows various statistics for single-family homes. For a detailed view of the individual city markets, see our trend charts in the City Trends section. The menu is at the right.
The second table does the same for condominiums and townhomes.
These figures can, and often do, swing wildly. Our 3 and 12-month moving average charts provide a much more realistic picture. (See CITY TRENDS.)
| Orange County Home Prices & Sales | |||||||||
| July 2009 | |||||||||
| Â | Homes | Yearly Percent Change | Monthly Percent Change | ||||||
| Â | Median | Average | Units | Median | Average | Units | Median | Average | Units |
| Orange County | $490,000 | n/a | 2,119 | -4.9% | n/a | 9.3% | 1.0% | n/a | 8.5% |
| Aliso Viejo | $552,500 | $545,636 | 22 | -5.6% | -12.6% | 46.7% | 0.5% | -10.7% | 10.0% |
| Coto de Caza | $965,000 | $1,106,156 | 16 | -21.2% | -11.5% | 0.0% | -12.7% | -14.7% | 60.0% |
| Corona del Mar | $1,775,000 | $1,980,000 | 10 | 10.2% | 25.7% | 42.9% | 11.3% | 54.2% | 66.7% |
| Dana Point | $799,000 | $1,041,571 | 21 | -26.9% | -39.7% | 16.7% | 6.7% | -23.6% | -8.7% |
| Irvine | $731,500 | $940,393 | 86 | -2.5% | 6.0% | 8.9% | 5.1% | 14.8% | 24.6% |
| Laguna Beach | $1,150,000 | $2,270,413 | 23 | -36.1% | 1.1% | 35.3% | -25.8% | 50.7% | 53.3% |
| Laguna Hills | $731,500 | $773,167 | 24 | 17.0% | -6.6% | 60.0% | 10.8% | 5.1% | 41.2% |
| Laguna Niguel | $650,000 | $770,383 | 46 | -9.7% | -1.9% | 53.3% | -9.3% | -31.1% | 53.3% |
| Lake Forest | $495,000 | $524,883 | 51 | -4.7% | -2.4% | -17.7% | 13.8% | 12.5% | 34.2% |
| Mission Viejo | $510,000 | $541,951 | 73 | -7.8% | -6.9% | -6.4% | 0.0% | -14.3% | 65.9% |
| Newport Beach | $1,715,000 | $2,639,462 | 36 | 8.9% | 36.8% | 16.1% | 18.5% | 15.7% | 63.6% |
| Newport Coast | $2,150,000 | $2,757,955 | 11 | -52.2% | -40.4% | 57.1% | 87.0% | 87.3% | 0.0% |
| Rancho Santa Margarita | $540,000 | $543,519 | 53 | -10.2% | -13.7% | 17.8% | 14.4% | 4.8% | 65.6% |
Â
| Orange County Condo Prices & Sales | |||||||||
| July 2009 | |||||||||
| Â | Condos | Yearly Percent Change | Monthly Percent Change | ||||||
| Â | Median | Average | Units | Median | Average | Units | Median | Average | Units |
| Orange County | $288,000 | n/a | 887 | -14.3% | n/a | 24.6% | -8.3% | n/a | 2.7% |
| Aliso Viejo | $335,000 | $348,633 | 55 | -15.2% | -10.5% | -12.7% | 3.9% | 4.5% | 52.8% |
| Corona del Mar | $1,175,000 | $1,246,132 | 14 | -6.0% | -1.9% | 366.7% | 38.2% | 46.6% | 1300.0% |
| Dana Point | $395,000 | $471,288 | 17 | -35.8% | -39.3% | 13.3% | -23.5% | -19.5% | 70.0% |
| Irvine | $439,000 | $450,009 | 105 | -12.2% | -13.4% | -3.7% | 3.3% | -7.6% | 54.4% |
| Laguna Beach | $2,825,000 | $2,825,000 | 1 | 173.2% | 173.2% | 0.0% | 162.8% | 162.9% | -66.7% |
| Laguna Hills | $230,000 | $254,827 | 13 | -8.0% | -8.3% | 0.0% | 2.2% | 3.6% | -38.1% |
| Laguna Niguel | $289,500 | $348,131 | 44 | -22.3% | -10.6% | 25.7% | 1.6% | 1.5% | 57.1% |
| Laguna Woods | $153,750 | $174,843 | 58 | -21.2% | -29.7% | 16.0% | 8.3% | 3.7% | 7.4% |
| Lake Forest | $235,000 | $232,739 | 49 | -16.3% | -15.3% | 25.6% | 24.6% | 16.2% | 11.4% |
| Mission Viejo | $330,000 | $330,872 | 41 | 11.2% | 2.3% | 20.6% | 37.5% | 27.1% | 28.1% |
| Newport Beach | $739,000 | $943,286 | 21 | 15.5% | 13.0% | 61.5% | 76.0% | 88.0% | 75.0% |
| Newport Coast | $1,039,000 | $1,039,000 | 1 | -30.9% | -4.8% | 80.0% | 13.0% | 13.0% | -50.0% |
| Rancho Santa Margarita | $280,000 | $289,530 | 35 | -8.2% | -6.9% | -20.5% | 3.7% | 4.7% | 16.7% |
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