Homebuying in what we’ll call the “Beach Blvd. Corridor” — in and around Huntington Beach, Fountain Valley, Garden Grove and Westminster — rose 1% as Orange County sales stalled to the slowest pace since 2014.
CoreLogic homebuying stats show May was the 10th consecutive month Orange County home sales failed to beat the pace of the year-ago period. Plus, this was the slowest-selling May countywide in five years as sales ran 13% below their historical monthly norm. Fewer buyers cut the countywide median selling price by the largest amount in seven years.
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How do these homebuying patterns translate locally? Well, CoreLogic found these 19 trends in 13 ZIP codes covered by the Orange County Register’s The Wave weekly, for May …
1. Purchases: Home sales for May totaled 446 vs. 442 a year earlier, a gain of 1% in a year.
2. Who’s up: Prices increased in 11 of the 13 ZIPs as sales rose in seven ZIPs.
3. Countywide: $720,500 median selling price, down 2.6% in a year. Orange County saw 3,313 existing and new residences sell vs. 3,526 a year earlier, a decline of 6.0% in a year. Prices rose in 44 out of 83 Orange County ZIPs; sales were up in 40 out of 83 ZIPs.
Here is how prices and sales moved in the “Beach Blvd. Corridor” …
4. Fountain Valley 92708: $794,500 median, up 7.7% in a year. Price rank? 31st of 83. Sales of 48 vs. 40 a year earlier, a gain of 20.0% over 12 months.
5. Garden Grove 92840: $555,000 median, up 1.8% in a year. Price rank? No. 68 of 83. Sales of 39 vs. 34 a year earlier, a gain of 14.7% over 12 months.
6. Garden Grove 92841: $641,000 median, up 3.4% in a year. Price rank? No. 58 of 83. Sales of 19 vs. 20 a year earlier, a decline of 5% over 12 months.
7. Garden Grove 92843: $502,500 median, down 8.6% in a year. Price rank? No. 78 of 83. Sales of 26 vs. 21 a year earlier, a gain of 23.8% over 12 months.
8. Garden Grove 92844: $580,000 median, up 3.9% in a year. Price rank? No. 64 of 83. Sales of 15 vs. 20 a year earlier, a decline of 25% over 12 months.
9. Garden Grove 92845: $648,000 median, down 3.8% in a year. Price rank? No. 57 of 83. Sales of 17 vs. 14 a year earlier, a gain of 21.4% over 12 months.
10. Huntington Beach 92646: $822,500 median, up 7.9% in a year. Price rank? No. 28 of 83. Sales of 73 vs. 91 a year earlier, a decline of 19.8% over 12 months.
11. Huntington Beach 92647: $760,000 median, up 1.3% in a year. Price rank? No. 35 of 83. Sales of 43 vs. 26 a year earlier, a gain of 65.4% over 12 months.
12. Huntington Beach 92648: $1,200,000 median, up 20.6% in a year. Price rank? No. 11 of 83. Sales of 50 vs. 59 a year earlier, a decline of 15.3% over 12 months.
13. Huntington Beach 92649: $817,500 median, up 7.6% in a year. Price rank? No. 30 of 83. Sales of 36 vs. 44 a year earlier, a decline of 18.2% over 12 months.
14. Midway City 92655: $665,000 median, up 27.9% in a year. Price rank? No. 55 of 83. Sales of 7 vs. 2 a year earlier, a gain of 250.0% over 12 months.
15. Stanton 90680: $442,000 median, up 6.3% in a year. Price rank? No. 81 of 83. Sales of 16 vs. 19 a year earlier, a decline of 15.8% over 12 months.
16. Westminster 92683: $670,000 median, up 4.7% in a year. Price rank? No. 53 of 83. Sales of 57 vs. 52 a year earlier, a gain of 9.6% over 12 months.
Plus, three more countywide trends found in May vs. May 2018 …
17. Single-family-home resales: 2,107 Orange County sales vs. 2,135 a year earlier, a decline of 1.3% in the period. Median: $800,000 — a rise of 0.6% in the period.
18. Condo resales: 944 sales vs. 939 a year earlier, a gain of 0.5% in a year. Median: $497,500 — a dip of 1.5% in 12 months.
19. New homes: Builders sold 262 residences vs. 452 a year earlier, a decline of 42.0% in 12 months. Median: $944,000 — a dip of 4.3% in 12 months.