Homebuying in inland South County — including Lake Forest, Mission Viejo, Rancho Santa Margarita and San Juan Capistrano — fell 21% in what was Orange County’s 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.
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CoreLogic found these 14 trends in 8 ZIP codes covered by the Orange County Register’s Saddleback News weekly edition, …
1. Purchases: Home sales in these nine months totaled 3,634 vs. 4,580 a year earlier, a decline of 21% in a year.
2. Who’s up: Prices increased in 4 of the 8 ZIPs as sales rose in just one 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 inland South County — including Lake Forest, Mission Viejo, Rancho Santa Margarita and San Juan Capistrano …
4. Mission Viejo 92691: $685,000 median, up 0.7% over 12 months. Price rank? 47th of 83. Sales of 381 vs. 521 a year earlier, a decline of 26.9% over 12 months.
5. Mission Viejo 92692: $700,000 median, down 4.1% over 12 months. Price rank? No. 44 of 83. Sales of 483 vs. 595 a year earlier, a decline of 18.8% over 12 months.
6. Lake Forest 92630: $710,000 median, down 7.2% over 12 months. Price rank? No. 43 of 83. Sales of 577 vs. 956 a year earlier, a decline of 39.6% over 12 months.
7. Foothill Ranch 92610: $851,750 median, up 62.1% over 12 months. Price rank? No. 22 of 83. Sales of 179 vs. 127 a year earlier, a gain of 40.9% over 12 months.
8. Rancho Santa Margarita 92688: $600,000 median, up 3% over 12 months. Price rank? No. 63 of 83. Sales of 421 vs. 595 a year earlier, a decline of 29.2% over 12 months.
9. Trabuco Canyon/Coto de Caza 92679: $939,000 median, down 5.6% over 12 months. Price rank? No. 15 of 83. Sales of 375 vs. 452 a year earlier, a decline of 17.0% over 12 months.
10. Ladera Ranch/Rancho Mission Viejo 92694: $755,000 median, up 5.2% over 12 months. Price rank? No. 33 of 83. Sales of 818 vs. 909 a year earlier, a decline of 10.0% over 12 months.
11. San Juan Capistrano 92675: $789,000 median, down 11.3% over 12 months. Price rank? No. 31 of 83. Sales of 400 vs. 425 a year earlier, a decline of 5.9% over 12 months.
Plus, three more countywide trends found in nine months ended in April vs. the same period one year earlier …
12. 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.
13. 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.
14. 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.
