July Homes Sales Increase 17% From Last Year

The Orange County real estate market continued to improve in July as sales of new and existing homes increased 17.4% last month from the same time last year, a research firm said Tuesday.

The median home price slid to $193,000, a drop of 2.5% from $198,000 last year, as falling values for condominiums and a rising number of foreclosures continued to drag down prices.

“This is the healthiest our market has been in some time,” said John Karevoll, an analyst with DataQuick Information Systems in La Jolla. “It’s not overheated or down at the bottom--it’s right on track.”

The real estate market in Orange County and throughout Southern California has continued to improve this year, as home sales during the first half of the year hit the highest levels in more than five years.

The increase in sales, coupled with stabilizing home prices, signal that Southern California and Orange County are beginning to pull out of the real estate downturn that began in 1990. In Orange County, July was the seventh consecutive month in which local home sales have increased from the same month the previous year, DataQuick found.

Increasing consumer confidence, a drop in the overall inventory for homes, and fluctuating mortgage rates are helping to drive the local housing market, brokers said.

“The housing market is looking better--we’ve got a floor under us. But that doesn’t mean sellers can go out and raise their prices,” said Gil Foerster, a broker in Newport Beach with Coldwell Banker. “I think 1996 can be a very good year.”

Still, home sales were down 13.8% in July from the 3,461 homes sold in June, and prices were down $3,000 from June, Karevoll said. But that was because June is typically a strong month for home sales.

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Orange County Home Sales

Although home sales in July declined to the lowest level since February, the 2,983 total was higher than the totals for July in three of the last five years, and 17% above last year’s comparable figure. Median sale price also dropped 1.5% from June and 2.5% from the previous July. Because of changes in postal designations, comparable data is not available for some ZIP Code regions.

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Percent Median Community Zip Sales change price Aliso Viejo 92656 106 -8.6% $163,000 Anaheim 92801 34 6.3% $139,000 Anaheim 92802 15 66.7% $152,000 Anaheim 92804 58 28.9% $149,000 Anaheim 92805 37 32.1% $132,000 Anaheim 92806 31 181.8% $161,000 Anaheim 92807 45 -2.2% $199,000 Anaheim 92808 37 32.1% $251,000 Brea* 92821 47 51.6% $183,000 Buena Park 90620 33 22.2% $162,000 Buena Park 90621 23 15.0% $156,000 Corona del Mar 92625 21 61.5% $632,000 Costa Mesa 92626 36 9.1% $209,000 Costa Mesa 92627 39 18.2% $180,000 Cypress 90630 51 2.0% $176,000 Dana Point 92624 8 14.3% $258,000 Dana Point 92629 47 46.9% $226,000 Fountain Valley 92708 85 107.3% $223,000 Fullerton* 92831 24 71.4% $196,000 Fullerton* 92832 13 116.7% $151,000 Fullerton* 92833 36 -14.3% $172,000 Fullerton* 92835 22 -24.1% $217,000 Garden Grove* 92840 38 -13.6% $153,000 Garden Grove* 92841 32 39.1% $153,000 Garden Grove* 92843 24 0.0% $133,000 Garden Grove* 92844 16 6.7% $126,000 Garden Grove* 92845 16 45.5% $197,000 Huntington Beach 92646 56 36.6% $209,000 Huntington Beach 92647 50 42.9% $211,000 Huntington Beach 92648 59 40.5% $299,000 Huntington Beach 92649 48 23.1% $193,000 Irvine* 92714 31 -20.5% $246,000 Irvine* 92715 11 -8.3% $233,000 La Habra 90631 45 4.7% $161,000 La Palma 90623 31 210.0% $212,000 Laguna Beach 92651 34 36.0% $388,000 Laguna Hills 92653 94 36.2% $186,000 Laguna Niguel 92677 154 33.9% $246,000 Lake Forest 92630 110 32.5% $190,000 Los Alamitos 90720 30 50.0% $273,000 Midway City 92655 7 n/a $149,000 Mission Viejo 92691 77 22.2% $185,000 Mission Viejo 92692 113 18.9% $224,000 Newport Beach 92660 46 24.3% $530,000 Newport Beach 92661 6 n/a $383,000 Newport Beach 92663 34 78.9% $323,000 Orange* 92865 11 0.0% $171,000 Orange* 92866 12 50.0% $158,000 Orange* 92867 11 n/a $210,000 Orange* 92868 20 122.2% $130,000 Orange* 92869 28 -9.7% $211,000 Placentia* 92870 42 -25.0% $170,000 R. Santa Margarita 92688 118 35.6% $156,000 S. Juan Capistrano 92675 39 8.3% $218,000 San Clemente 92672 53 39.5% $225,000 San Clemente 92673 31 19.2% $238,000 Santa Ana 92701 34 6.3% $113,000 Santa Ana 92703 36 80.0% $130,000 Santa Ana 92704 63 117.2% $128,000 Santa Ana** 92705 39 105.3% $217,000 Santa Ana 92706 28 27.3% $165,000 Santa Ana 92707 50 19.0% $125,000 Seal Beach 90740 16 60.0% $287,000 Stanton 90680 17 -15.0% $105,000 Trabuco/Coto 92679 108 100.0% $270,000 Tustin* 92680 22 -12.0% $154,000 Westminster 92683 61 8.9% $161,000 Yorba Linda* 92886 66 11.9% $230,000 Yorba Linda* 92887 35 -7.9% $315,000 Others -- 33 -- -- Countywide 2,983 17.4% $193,000

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Percent Highest Community Zip Sales change price Aliso Viejo 92656 106 -7.9% $225,000 Anaheim 92801 34 -8.6%$192,000 22 Anaheim 92802 15 8.6% $250,000 Anaheim 92804 58 -2.6% $320,000 Anaheim 92805 37 -10.2% $182,500 Anaheim 92806 31 -9.0% $235,000 Anaheim 92807 45 -9.1% $536,000 Anaheim 92808 37 42.6% $460,000 Brea* 92821 47 -16.4% $385,000 Buena Park 90620 33 2.5% $212,500 Buena Park 90621 23 -10.9% $280,000 Corona del Mar 92625 21 30.0% $1,500,000 Costa Mesa 92626 36 12.4% $360,000 Costa Mesa 92627 39 -9.1% $369,500 Cypress 90630 51 -20.4% $289,000 Dana Point 92624 8 6.6% $455,000 Dana Point 92629 47 -7.4% $625,000 Fountain Valley 92708 85 -1.3% $426,000 Fullerton* 92831 24 24.1% $400,000 Fullerton* 92832 13 16.2% $299,000 Fullerton* 92833 36 8.2% $310,000 Fullerton* 92835 22 2.4% $535,000 Garden Grove* 92840 38 2.7% $187,000 Garden Grove* 92841 32 -3.8% $235,000 Garden Grove* 92843 24 -11.9% $188,000 Garden Grove* 92844 16 -6.7% $215,000 Garden Grove* 92845 16 0.0% $238,500 Huntington Beach 92646 56 -7.9% $570,000 Huntington Beach 92647 50 5.5% $330,000 Huntington Beach 92648 59 3.5% $663,000 Huntington Beach 92649 48 -11.9% $570,000 Irvine* 92714 31 1.2% n/a Irvine* 92715 11 -1.7% $380,500 La Habra 90631 45 -0.6% $310,000 La Palma 90623 31 -4.9% $315,000 Laguna Beach 92651 34 -11.4% $3,250,000 Laguna Hills 92653 94 -1.6% $845,000 Laguna Niguel 92677 154 -3.5% $1,525,000 Lake Forest 92630 110 -3.6% $371,000 Los Alamitos 90720 30 7.5% $650,000 Midway City 92655 7 n/a $172,500 Mission Viejo 92691 77 -3.1% $340,000 Mission Viejo 92692 113 -6.3% $617,500 Newport Beach 92660 46 58.2% $1,700,000 Newport Beach 92661 6 n/a $600,000 Newport Beach 92663 34 7.0% $2,025,000 Orange* 92865 11 -1.2% $199,000 Orange* 92866 12 8.2% $290,000 Orange* 92867 11 n/a $348,000 Orange* 92868 20 0.0% $170,000 Orange* 92869 28 -13.5% $485,000 Placentia* 92870 42 -17.1% $255,000 R. Santa Margarita 92688 118 6.1% $349,000 S. Juan Capistrano 92675 39 -0.9% $955,000 San Clemente 92672 53 4.2% $1,600,000 San Clemente 92673 31 -22.0% $411,000 Santa Ana 92701 34 -8.1% $179,000 Santa Ana 92703 36 2.4% $196,000 Santa Ana 92704 63 -4.5% $230,500 Santa Ana** 92705 39 -36.9% $2,155,000 Santa Ana 92706 28 5.8% $370,000 Santa Ana 92707 50 -9.4% $250,000 Seal Beach 90740 16 -1.4% $450,000 Stanton 90680 17 -21.1% $159,500 Trabuco/Coto 92679 108 -9.7% $600,000 Tustin* 92680 22 -23.0% n/a Westminster 92683 61 -6.4% $272,000 Yorba Linda* 92886 66 -9.8% $490,000 Yorba Linda* 92887 35 -3.4% $451,000 Others -- 33 -- -- Countywide 2,983 -2.5% $3,250,000

Entered Community Foreclosure Aliso Viejo 24 Anaheim Anaheim 11 Anaheim 33 Anaheim 16 Anaheim 18 Anaheim 26 Anaheim 7 Brea* 13 Buena Park 22 Buena Park 11 Corona del Mar 6 Costa Mesa 10 Costa Mesa 18 Cypress 10 Dana Point 1 Dana Point 19 Fountain Valley 23 Fullerton* 13 Fullerton* 9 Fullerton* 26 Fullerton* 6 Garden Grove* 27 Garden Grove* 18 Garden Grove* 16 Garden Grove* 15 Garden Grove* 6 Huntington Beach 26 Huntington Beach 13 Huntington Beach 13 Huntington Beach 7 Irvine* 3 Irvine* 0 La Habra 27 La Palma 7 Laguna Beach 9 Laguna Hills 37 Laguna Niguel 46 Lake Forest 35 Los Alamitos 7 Midway City 1 Mission Viejo 23 Mission Viejo 18 Newport Beach 9 Newport Beach 3 Newport Beach 7 Orange* 5 Orange* 3 Orange* 0 Orange* 9 Orange* 9 Placentia* 14 R. Santa Margarita 23 S. Juan Capistrano 20 San Clemente 13 San Clemente 6 Santa Ana 16 Santa Ana 31 Santa Ana 62 Santa Ana** 13 Santa Ana 27 Santa Ana 48 Seal Beach 2 Stanton 22 Trabuco/Coto 18 Tustin* 1 Westminster 37 Yorba Linda* 16 Yorba Linda* 13 Others Countywide 1,141

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*Zip Codes where postal designation changes took effect in July, 1996

**Includes Lemon/Cowan Heights

Sales, Price Trends

Sales

1996: 2,983

Median Price

1996: $193,000

July Sales

‘96: 2,983

July Median Price

‘96: $193,000

Sources: Dataquick Information Systems; Researched by GREG MILLER / Los Angeles Times