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Homebuying up 55% since the bubble burst in Brea, Buena Park, Fullerton, La Habra, La Palma, Placentia, Yorba Linda

by in News

Homebuying in Brea, Buena Park, Fullerton, La Habra, La Palma, Placentia and Yorba Linda rose 55 percent in a decade.

In the first quarter of 2008, housing’s bubble was bursting and it was just months before the global financial collapse that led to the Great Recession. This three-month period still stands as Orange County’s slowest-selling start to any year in CoreLogic’s database that dates to 1988.

ICYMI: O.C. housing’s rebound from the crash

We decided to see how neighborhood housing markets fared since, comparing homebuying’s start of 2008 vs. this year’s first three months.

CoreLogic found these 19 trends in 13 ZIP codes covered by the Orange County Register’s North County News weekly, …

1. Purchases: Home sales in this period totaled 984 vs. 634 a decade ago, a gain of 55.2 percent.

2. Who’s up: Prices increased in 12 of the 13 ZIPs as sales rose in 13 ZIPs.

3. Countywide: $710,000 median selling price, up 38.4 percent. Orange County sales totaled 7,800 residences, existing and new, vs. 4,419 a decade ago, a gain of 76.5 percent. Prices rose in 79 out of 83 Orange County ZIPs and sales were up in 76 out of 83 ZIPs.

Here is how prices and sales moved at the community level …

4. Brea 92821: $694,250 median, up 32.2 percent. Price rank? 44th of 83 Orange County ZIPs. Sales of 78 vs. 46 a decade ago, up 69.6 percent.

5. Brea 92823: $800,000 median, up 49.5 percent. Ranks 26th priciest of 83 ZIPs. Sales of 23 vs. 6 a decade ago, up 283.3 percent.

6. Buena Park 90620: $570,000 median, up 34.1 percent. Ranks 65th priciest of 83 ZIPs. Sales of 84 vs. 59 a decade ago, up 42.4 percent.

7. Buena Park 90621: $537,000 median, up 17.7 percent. Ranks 71st priciest of 83 ZIPs. Sales of 57 vs. 49 a decade ago, up 16.3 percent.

8. Fullerton 92831: $591,250 median, up 17.1 percent. Ranks 61st priciest of 83 ZIPs. Sales of 66 vs. 41 a decade ago, up 61 percent.

9. Fullerton 92832: $530,000 median, up 31.6 percent. Ranks 76th priciest of 83 ZIPs. Sales of 23 vs. 22 a decade ago, up 4.5 percent.

10. Fullerton 92833: $600,000 median, up 25.7 percent. Ranks 60th priciest of 83 ZIPs. Sales of 109 vs. 79 a decade ago, up 38 percent.

11. Fullerton 92835: $730,000 median, up 29.8 percent. Ranks 35th priciest of 83 ZIPs. Sales of 77 vs. 35 a decade ago, up 120 percent.

12. La Habra 90631: $546,000 median, up 35.1 percent. Ranks 69th priciest of 83 ZIPs. Sales of 129 vs. 81 a decade ago, up 59.3 percent.

13. La Palma 90623: $708,750 median, up 28.3 percent. Ranks 41st priciest of 83 ZIPs. Sales of 27 vs. 16 a decade ago, up 68.8 percent.

14. Placentia 92870: $645,750 median, up 22.0 percent. Ranks 56th priciest of 83 ZIPs. Sales of 104 vs. 62 a decade ago, up 67.7 percent.

15. Yorba Linda 92886: $772,500 median, down 9.1 percent. Ranks 29th priciest of 83 ZIPs. Sales of 152 vs. 100 a decade ago, up 52 percent.

16. Yorba Linda 92887: $893,000 median, up 31.3 percent. Ranks 19th priciest of 83 ZIPs. Sales of 55 vs. 38 a decade ago, up 44.7 percent.

Let’s toss in three more countywide trends …

17. Single-family homes resales: 4,614 Orange County sales vs. 2,853 a decade ago, a gain of 61.7 percent. Median: $760,000 — a rise of 32.2 percent.

18. Condo resales: 2,097 Orange County sales vs. 1,080 a decade ago, a gain of 94.2 percent. Median: $495,000 — a rise of 32 percent.

19. New homes: 1,089 Orange County sales vs. 487 a decade ago, a gain of 123.6 percent. Median: $873,000 — a rise of 63.8 percent.