For Irvine zip codes as of late March, sales were off 28% from a year ago. If sales for calendar March hold at this level, it will be the most sales volume in Irvine since August...
From Lansner:
DataQuick’s latest look at O.C.housing purchases shows that just 5 of 83 local ZIP codes enjoyed year-to-year sales growth in the 22 business days ended March 26. (The lucky five? Irvine 92618, Anaheim 92805, Orange 92865, Santa Ana 92703 — yes, Santa Ana, and Dana Point 92624.) Overall, sales were down 41%. (More ZIP data is HERE!)
Perhaps the best news for the real estate market is that the countywide median selling price stuck for a week at a half-million bucks. Still, that’s off 22.5% from last June’s peak. How it looked for the 22 business days ended March 26, by the slice …
Slice Price Vs. ‘07 Sales Vs. ‘07
House $570,000 -17.3% 1,164 -37.8%
Condo $370,000 -20.9% 470 -46.3%
New $512,250 -19.3% 204 -47.7%
All $500,000 -19.7% 1,838 -41.4%