Homebuilder The New Home Co. is creating its first 55-plus age restricted community in Orange County to Brea.
The Agave community within the La Floresta neighborhood will hold 80 single-story flats ranging from from 1,379-to-1,726 square feet in size with up to three bedrooms plus a den; two baths; and a deck. Prices are expected to start in the mid-$600,000 range.
A sales office opens Saturday, Aug. 19, with a formal grand opening planned for October.
The new homes come as first-half homebuying in Brea outpaced countywide sales activity. Sales in Brea rose as 310 residences sold through June vs. 272 in the six months ended in June 2016, according to CoreLogic. That’s a gain of 14 percent vs. 2.2 percent countywide.
Neighborhood trends in Brea from the CoreLogic report …
Brea ZIP code 92821 — 234 homes sold in the latest period vs. 218 eight years ago. That’s a sales gain of 7.3 percent. Median selling price of $637,500 vs. $ 630,000 in ’08, a gain of 1.2 percent.
Brea ZIP 92823 — 76 homes sold in the latest period vs. 54 eight years ago. That’s a sales gain of 40.7 percent. Median of $717,500 vs. $ 688,750 in ’08, a gain of 4.2 percent.
Here are six countywide trends to ponder, first half 2017 vs. first half 2016 …
1. Prices rose in 70 of 83 Orange County ZIPs. Sales rose in 50 of the 83.
2. In the 27 least expensive ZIPs — median price at $597,500 and below -– 5,258 homes sold. That’s up 0.8 percent.
3. In the 27 priciest ZIPs — median price of $755,000-plus -– 6,431 homes sold. That’s up 5.7 percent.
4. In nine ZIPs with medians above $1 million, sales totaled 1,256 homes, up 7.8 percent.
5. In 16 beach-close ZIPs, 3,158 homes sold, up 3.27 percent.
6. There were 10 ZIPs with median prices under $500,000 with total sales of 1,799 homes. A year ago, 18 ZIPs had medians under $500,000 with 2,793 sales.
DID YOU SEE? It’s been 10 years since Orange County’s housing bubble … or … Half of us rent: L.A.-Orange County homeownership rate 2nd lowest in U.S.