Huntington Beach, Fountain Valley, Garden Grove, Westminster home sales drop 16% in worst O.C. slump since ’12 – Daily News

on Jun12
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Homebuying in what we’ll call the “Beach Blvd. Corridor” — in and around Huntington Beach, Fountain Valley, Garden Grove and Westminster — fell 16% in what was Orange County slowest nine months of sales since 2012.

For nine consecutive months through April, CoreLogic housing stats show countywide sales failing to top the year-ago period. We wanted to see how these lethargic sales trends played out at the neighborhood level knowing that homebuying declined in roughly eight of nine local ZIP codes.

ICYMI: Does California need another crash to create affordable homes?

CoreLogic found these 19 trends in 13 ZIP codes covered by The Wave, a weekly edition of the Orange County Register …

1. Purchases: Home sales in these nine months totaled 2,889 vs. 3,427 a year earlier, a decline of 16% in a year.

2. Who’s up: Prices increased in 7 of the 13 ZIPs as sales rose in 1 ZIPs.

3. Countywide: $720,000 median selling price, flat in the period. Orange County sales totaled 22,872 residences, existing and new, vs. 27,289 a year earlier, a decline of 16.2% in a year. Prices rose in 43 out of 83 Orange County ZIPs and sales were up in 9 out of 83 ZIPs.

Here is how prices and sales moved in the “Beach Blvd. Corridor” …

4. Fountain Valley 92708: $790,000 median, up 4.6% in a year. Price rank? 30th of 83. Sales of 348 vs. 351 a year earlier, a decline of 0.9% over 12 months.

5. Garden Grove 92840: $568,000 median, up 0.5% in a year. Price rank? No. 68 of 83. Sales of 283 vs. 300 a year earlier, a decline of 5.7% over 12 months.

6. Garden Grove 92841: $625,000 median, down 7.4% in a year. Price rank? No. 60 of 83. Sales of 117 vs. 149 a year earlier, a decline of 21.5% over 12 months.

7. Garden Grove 92843: $575,000 median, up 3.8% in a year. Price rank? No. 66 of 83. Sales of 132 vs. 202 a year earlier, a decline of 34.7% over 12 months.

8. Garden Grove 92844: $480,000 median, down 14.3% in a year. Price rank? No. 78 of 83. Sales of 93 vs. 115 a year earlier, a decline of 19.1% over 12 months.

9. Garden Grove 92845: $670,000 median, up 1.9% in a year. Price rank? No. 52 of 83. Sales of 137 vs. 146 a year earlier, a decline of 6.2% over 12 months.

10. Huntington Beach 92646: $740,000 median, up 12.1% in a year. Price rank? No. 35 of 83. Sales of 455 vs. 542 a year earlier, a decline of 16.1% over 12 months.

11. Huntington Beach 92647: $725,000 median, down 1.4% in a year. Price rank? No. 36 of 83. Sales of 237 vs. 287 a year earlier, a decline of 17.4% over 12 months.

12. Huntington Beach 92648: $897,500 median, down 1.0% in a year. Price rank? No. 18 of 83. Sales of 327 vs. 447 a year earlier, a decline of 26.8% over 12 months.

13. Huntington Beach 92649: $820,000 median, down 0.6% in a year. Price rank? No. 24 of 83. Sales of 284 vs. 304 a year earlier, a decline of 6.6% over 12 months.

14. Midway City 92655: $682,500 median, up 17.1% in a year. Price rank? No. 49 of 83. Sales of 33 vs. 23 a year earlier, a gain of 43.5% over 12 months.

15. Stanton 90680: $425,000 median, flat in the period. Price rank? No. 81 of 83. Sales of 130 vs. 151 a year earlier, a decline of 13.9% over 12 months.

16. Westminster 92683: $658,000 median, up 1.4% in a year. Price rank? No. 54 of 83. Sales of 313 vs. 410 a year earlier, a decline of 23.7% over 12 months.

Plus, three more countywide trends found in nine months ended in April vs. the same period one year earlier …

17. Single-family-home resales: 13,720 Orange County sales vs. 16,058 a year earlier, a decline of 14.6% in the period. Median: $767,000 — a dip of 1.0% in the period.

18. Condo resales: 6,038 sales vs. 7,218 a year earlier, a decline of 16.3% in 12 months. Median: $500,000 — unchanged in the timeframe.

19. New homes: Builders sold 3,114 residences vs. 4,013 a year earlier, a decline of 22.4% in 12 months. Median: $981,500 — a rise of 7.3% in a year.



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