Was this summer’s homebuying hotter in Ladera Ranch, Rancho Mission Viejo or Rancho Santa Margarita?
Here’s what CoreLogic’s homebuying report for the two communities told us about closed sales activity for all residences in the third quarter vs. a year ago …
Ladera Ranch-Rancho Mission Viejo ZIP code 92694 — 306 homes sold in the latest period vs. 303 last year. That’s a sales gain of 1 percent. Median selling price of $711,000 vs. $697,743 in 2016, a gain of 1.9 percent. The median was 38th highest out of 83 Orange County ZIPs.
Rancho Santa Margarita ZIP 92688 — 250 homes sold in the latest period vs. 233 last year. That’s a sales gain of 7.3 percent. Median of $540,000 vs. $507,042 in 2016, a gain of 6.5 percent. The median ranked 67th of 83.
Eight countywide trends from the summer quarter vs. a 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?