The below article should not come as a surprise to anyone being that real estate is all about location, location, location.
OC Register, March 28th, 2011
Question: Where’s home-buying on the rise as the traditional home-buying season starts? Answer: At the beach!
For the 22 business days ending March 7 – freshest numbers from Data-Quick our region-by-region analysis of local real estate trends finds Orange County home-buying slicing up by geography this way …
- There were 504 homes sold in Orange County’s north-inland ZIP codes in this most recent period, -6% from a year ago. Median selling price? $419,000 in these 22 ZIPs. This most recent median price change was -6.4% vs. a year ago.
- Mid-county ZIPs — median selling price $346,750 – had 586 sales, -25% from a year ago. In these 25 ZIPs, the median price change was +0.7% vs. a year ago.
- Combined, total homes sales in ZIPs in the north and mid-section of Orange County were -17.5% vs. a year ago as home-buying the rest of the county ran -7.9% vs. 12 months earlier.
- North/mid-county homes accounted for 51% of residences sold in the most recent period vs. 54% a year ago.
- 419 homes sold in beach cities’ 17 ZIP codes in the most recent period, +5% from a year ago — only region with a gain! Median selling price? $638,500 in these 17 ZIPs. Median price change was -4.9% vs. a year ago.
- South inland ZIPs — median selling price $470,000 – had 627 sales, -15% from a year ago. In these 19 ZIPs, median price change was +0.4% vs. a year ago.
- All told, countywide sales were -11% vs. a year ago. The median selling price was -1% in the past year.