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Corelogic : Brea homebuying wilts, sales dip 11.8% in summer

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11/11/2017 | 10:33 pm

Nov. 11--Homebuying in Brea in the third quarter could not keep pace with countywide sales activity.

Using CoreLogic data, we compared sales patterns for all residences in the July-to-September period vs. the year-ago period. Sales in Brea fell as 157 residences were purchased this year vs. 178 a year ago. That's a loss of 11.8 percent vs. an increase of 2.2 percent countywide.

Neighborhood trends in Brea for the summer quarter from CoreLogic's report:

Brea ZIP code 92821 -- 121 homes sold vs. 148 a year ago. That's a sales loss of 18.2 percent. Median selling price of $675,000 vs. $652,174 last year, a gain of 3.5 percent. That median ranked No. 46 highest out of 83 Orange County ZIPs.

Brea ZIP 92823 -- 36 homes sold vs. 30 a year ago. That's a sales gain of 20 percent. Median of $790,000 vs. $655,058 last year, a gain of 20.6 percent. That median ranked No. 24 highest out of 83.

Eight countywide trends from the summer quarter vs. 2016:

1. Prices were up in 75 of 83 Orange County ZIP codes compared to the previous year.

2. Sales rose in 38 of 83 ZIPs vs. year-ago period.

3. Builder sales were up 16.7 percent from a year ago.

4. In the 27 least expensive ZIP codes -- median sales price at $610,000 and below -- sales fell 1.9 percent compared to a year ago.

5. In the 27 priciest ZIPs -- median sales price beginning at $775,000 and higher -- sales rose 10.7 percent vs. a year ago.

6. In the nine Orange County ZIP codes with median above $1 million, sales totaled 693 homes, up 3.27 percent vs. a year ago.

7. In the county's 16 beach-close ZIP codes, sales rose 7 percent vs. a year ago.

8. Seven ZIPs with median prices under $500,000 had total sales of 553 homes. A year ago, 11 ZIPs had medians under $500,000 with 967 sales. That's a drop of 43 percent in a year.

How much Orange County housing can you buy for $350,000?

SEE: $350,000 new home in Orange County? It's in the works in Rancho Mission Viejo

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(c)2017 The Orange County Register (Santa Ana, Calif.)

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