ZIP CODES OF THE RICH & FAMOUS : Corona del Mar Entry Overtakes Newport Neighbors as Costliest

To lift a line from F. Scott Fitzgerald, the rich are different from you and me--they have better ZIP codes. They also have a tendency to live in Newport Beach. Five of the 10 priciest Orange County ZIP code areas are located there, according to figures compiled by TRW Real Estate Information Services. During the first 11 months of 1989, a 33.8% increase in the median price of new and resale homes pushed the 92625 area in Corona del Mar, which is a part of Newport Beach, past the city’s 92660 to claim the title of most expensive ZIP in the county. Prices in most of the top 10 ZIPs were significantly higher than the year before, and six posted gains of more than the countywide average of 19.1%. However, one ZIP in Newport Beach suffered an 8.8% price decline from the 1988 figure. The number of homes sold fell 25.3% countywide during the period, but seven of the 10 toniest ZIPs declined at an even faster rate.

HOME SALES AND PRICES IN THE 10 HOTTEST ZIPS

Here are the 10 Orange County ZIP code areas with the highest median prices for new home sales and resales recorded during the first 11 months of 1989. Data on median prices reflects on the value of homes being sold, not homes in the community at large.

NUMBER SOLD

Jan. to Jan. to ZIP Nov. Nov. Percent Area Code 1988 1989 Change Corona del Mar 92625 476 298 -37.4 Newport Beach 92660 1,169 676 -42.2 Newport Beach 92662 95 58 -38.9 Laguna Beach 92651 790 518 -34.4 Newport Beach 92661 70 57 -18.6 Surfside 90743 7 7 nc Santa Ana 92705 549 389 -29.1 Newport Beach 92663 571 406 -28.9 Seal Beach 90740 319 186 -41.7 Trabuco Canyon 92679 755 583 -22.8 County Total 56,869 42,474 -25.3

MEDIAN PRICE Jan. to Jan. to ZIP Nov. Nov. Percent Area Code 1988 1989 Change Corona del Mar 92625 $444,873 $593,456 +33.8 Newport Beach 92660 415,785 519,427 +25.3 Newport Beach 92662 363,360 501,908 +38.5 Laguna Beach 92651 326,451 422,866 +30.1 Newport Beach 92661 452,459 412,785 -8.8 Surfside 90743 374,156 383,377 +2.5 Santa Ana 92705 306,492 364,424 +18.9 Newport Beach 92663 327,976 361,167 +10.4 Seal Beach 90740 269,288 343,301 +28.5 Trabuco Canyon 92679 218,999 339,935 +57.6 County Total 210,098 250,457 +19.2

Source: TRW Real Estate Information Services