Santa Ana homes sales drop 9%: 12 facts to know

Homebuying in Santa Ana fell 9 percent this summer vs. a year ago.

It was the slowest-selling third quarter in four years for Orange County’s housing market, as buyers balked at high prices and expensive mortgages while homeowners and builders boosted the supply of residences for sale.

Here’s what we learned when we looked at house-hunting patterns at the neighborhood level in 2018’s summer quarter vs. the July-to-September period a year earlier.

CoreLogic found these 12 trends in 6 ZIP codes around Santa Ana …

1. Purchases: Home sales in this period totaled 474 vs. 523 a year ago, a decline of 9.4 percent.

2. Who’s up: Prices increased in five of the six ZIPs as sales rose in two ZIPs.

3. Countywide: $734,000 median selling price, up 3.4 percent. 2 9,160 residences, existing and new, vs. 10,350 a year ago, a decline of 11.5 percent. Prices rose in 50 out of 83 Orange County ZIPs and sales were up in 21 out of 83 ZIPs.

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

4. Santa Ana 92701: $391,000 median, up 50.4 percent. Price rank? 82nd of 83 Orange County ZIPs. Sales of 57 vs. 62 a year ago, a decline of 8.1 percent.

5. Santa Ana 92703: $521,000 median, up 1.6 percent. Price rank? 77th of 83 ZIPs. Sales of 67 vs. 64 a year ago, up 4.7 percent.

6. Santa Ana 92704: $492,500 median, down 1.3 percent. Price rank? 79th of 83  ZIPs. Sales of 93 vs. 128 a year ago, a decline of 27.3 percent.

7. Santa Ana 92705: $935,000 median, up 17.6 percent. Price rank? 16th of 83  ZIPs. Sales of 122 vs. 131 a year ago, a decline of 6.9 percent.

8. Santa Ana 92706: $670,000 median, up 12.6 percent. Price rank? 51st of 83 ZIPs. Sales of 77 vs. 57 a year ago, up 35.1 percent.

9. Santa Ana 92707: $502,500 median, up 17.1 percent. Price rank? 78th of 83  ZIPs. Sales of 58 vs. 81 a year ago, a decline of 28.4 percent.

Plus, three more countywide trends found this summer vs. a year ago. …

10. Single-family-home resales: 5,618 Orange County sales vs. 6,284 a year ago, a decline of 10.6 percent in the period. Median: $785,500 — a rise of 3.4 percent in the period.

11. Condo resales: 2,429 sales vs. 2,802 a year ago, a decline of 13.3 percent in 12 months. Median: $513,000 — a rise of 4.7 percent in a year.

12. New homes: Builders sold 1,113 residences vs. 1,263 a year ago, a decline of 11.9 percent in 12 months. Median: $985,000 — a rise of 11.6 percent in a year.