Homebuying in Lake Forest and Foothill Ranch ZIP codes in 2017’s first three months could not keep pace with countywide sales gains.
How did the local residential real estate market start the year? Using CoreLogic data, we compared homebuying patterns from January to March from this year and 2016.
Sales in the area fell as 187 residences sold in the past 12 months vs. 200 a year ago.
That’s a loss of 6.5 percent vs. a 3.5 percent increase countywide.
Neighborhood trends in Foothill Ranch from the report:
Foothill Ranch ZIP code 92833 — 110 homes sold in the latest period vs. 137 one year ago. That’s a sales loss of 19.7 percent. Median selling price of $541,000 vs. $515,000 last year, a gain of 5 percent.
Lake Forest ZIP 92835 — 77 homes sold in the latest period vs. 63 one year ago. That’s a sales gain of 22.2 percent. Median of $675,000 vs. $ 620,000 last year, a gain of 8.9 percent.
Note: Portola Hills is tracked in a distinct ZIP, 92679, that runs along the foothills through Trabuco Canyon to Wagon Wheel. In this period in 92679, 152 homes sold vs. 137 a year ago, a gain of 11 percent. Median selling price this year of $789,500 vs. $800,000 in 2016, a decline of 1.3 percent.
And here are four countywide trends to ponder in the period vs. 2016:
1. By neighborhood, prices rose in 66 of 83 Orange County ZIP codes; sales rose in 50 ZIPs.
2. In the 27 least expensive ZIPs — where the highest median home price was $588,000 — 2,423 homes sold, up 5 percent. Sales rose in 70 percent of these ZIPs.
3. In the 27 priciest ZIPs — where the medians start at $742,000 — 2,630 homes sold, up 7.2 percent. Sales rose in 59 percent of these ZIPs.
4. Million-dollar ZIPs: 9 with 551 sales, up 13 percent vs. 10 million-dollar ZIPs a year ago.
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