Homebuying chill: Sales in Santa Ana drop 31%

Homebuying in Santa Ana fell 31% in what was Orange County homebuying’s slowest start to a year since 2009.

CoreLogic stats show the lowest countywide sales count for any first three months of a year since the Great Recession. It also was the third-slowest-selling first quarter in the real estate tracker’s database that dates to 1988. At the community level, sales rose in only one-sixth of Orange County’s 83 ZIP codes. With the slump, prices fell countywide, too.

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

1. Purchases: Home sales in the first quarter totaled 323 vs. 465 a year earlier, a decline of 31% in a year.

2. Who’s up: Prices increased in two of the six ZIPs; as sales rose in none.

3. Countywide: $710,000 median selling price, down 2.1% in a year. Orange County sales totaled 6,211 residences, existing and new, vs. 7,804 a year earlier, a decline of 20.4% in a year. Prices rose in 36 out of 83 Orange County ZIPs and sales were up in 13 out of 83 ZIPs.

Here is how prices and sales moved in Santa Ana …

4. Santa Ana 92701: $356,250 median, up 18.8% over 12 months. Price rank? 82nd of 83 Orange County ZIPs. Sales of 38 vs. 65 a year earlier, a decline of 41.5% in a year.

5. Santa Ana 92703: $496,500 median, down 14.4% over 12 months. Price rank? 77th of 83 Orange County ZIPs. Sales of 44 vs. 79 a year earlier, a decline of 44.3% in a year.

6. Santa Ana 92704: $444,500 median, down 18.7% over 12 months. Price rank? 80th of 83 Orange County ZIPs. Sales of 58 vs. 107 a year earlier, a decline of 45.8% in a year.

7. Santa Ana-North Tustin 92705: $853,750 median, down 3.5% over 12 months. Price rank? 18th of 83 Orange County ZIPs. Sales of 86, flat in the period.

8. Santa Ana 92706: $655,000 median, down 3.0% over 12 months. Price rank? 52nd of 83 Orange County ZIPs. Sales of 44 vs. 52 a year earlier, a decline of 15.4% in a year.

9. Santa Ana 92707: $495,000 median, up 4.8% over 12 months. Price rank? 78th of 83 Orange County ZIPs. Sales of 53 vs. 76 a year earlier, a decline of 30.3% in a year.

Plus, three more countywide trends found in first quarter 2019 vs. 2018’s first three months …

10. Single-family-home resales: 3,784 Orange County sales vs. 4,570 a year earlier, a decline of 17.2% in the period. Median: $760,000 — a dip of 1.9% in the period.

11. Condo resales: 1,721 sales vs. 2,108 a year earlier, a decline of 18.4% in 12 months. Median: $485,000 — a dip of 3.0% in 12 months.

12. New homes: Builders sold 706 residences vs. 1,126 a year earlier, a decline of 37.3% in 12 months. Median: $1,017,500 — a rise of 15.8% in a year.