The more affordable the neighborhood, the better the odds its homes will sell quickly.<\/p>\n
My trusty spreadsheet reviewed a year\u2019s worth of sales and pricing data for the 71 Orange County ZIP codes with the most transactions in the 12 months ending in April, according to Attom. The goal was to track homebuying momentum in order to find \u201chot\u201d housing neighborhoods and those that were not. There were 13 ZIPs that did not make the cut.<\/p>\n
Yet another real estate pattern emerged.<\/p>\n
The grading was simple. Each ZIP code was ranked by its one-year percentage change in median price and sales counts, a tally that included houses and condos, both existing and newly built. Those two rankings were averaged to create a final grade for the 71 communities.<\/p>\n
Now, before we get to what you really want to know \u2013 like \u201cWho won?\u201d or \u201cWho lost?\u201d or \u201cHow\u2019d my ZIP do?\u201d \u2013 we did get an important economic lesson out of what\u2019s essentially bragging-rights calculations.<\/p>\n
First, note that the median price across all of Orange County was $1.2 million. Those hoping for discounts were largely disappointed, as prices rose 2% over the previous 12 months. Of the 71 ZIPs, prices rose in only 41.<\/p>\n
The lofty prices scared off numerous house hunters as sales rose just 1% in the year to 25,247. Of the 71 ZIPs, sales rose in just 41.<\/p>\n
And historically speaking, that\u2019s a sluggish purchasing pace, running 25% below the average dating to 2005.<\/p>\n
The lesson<\/p>\n
Now, focus on the extremes of these ZIP-by-ZIP rankings.<\/p>\n
Pricing in the 10 hottest neighborhoods ran $1.1 million, up 5% over the past year. Sales jumped 17% compared with the previous 12 months.<\/p>\n
At the bottom of the rankings, prices in Orange County\u2019s 11 coldest ZIP codes \u2013 with a tie for 10th chilliest \u2013 ran $1.4 million, down 4% in a year. Sales fell 9%.<\/p>\n
The lesson lies in the 27% price gap between hot and cold. This is the bargain hunter\u2019s market.<\/p>\n
At least in this timeframe, buyers shied away from costlier communities. Wannabe sellers should note that with affordability nearly non-existent, lower prices won.<\/p>\n
The top 10<\/p>\n
OK, the economic lecture is complete. Let\u2019s get to the awards ceremony for a winning group that\u2019s decidedly a North County flock, geographically speaking.<\/p>\n
Garden Grove\u2019s 92843 ZIP code was the hottest neighborhood housing market of the past year through April.<\/p>\n
Its $942,000 median sales price was up 6% in a year, the 11th-largest gain. Sales over the past 12 months were up 32% from the previous year, the largest increase in Orange County.<\/p>\n
Then came \u2026<\/p>\n
\u2013 No. 2 Orange 92865: $1.1 million median \u2013 up 4% in a year, No. 20 gain. Sales up 28% in a year, No. 3 increase.<\/p>\n
\u2013 No. 3 Fullerton 92832: $900,000 median \u2013 up 4% in a year, No. 21 gain. Sales up 19% in a year, No. 5 increase.<\/p>\n
\u2013 No. 3 Tustin 92780: $1.1 million median \u2013 up 7% in a year, No. 10 gain. Sales are up 10% in a year, No. 16 increase.<\/p>\n
\u2013 No. 3 Fullerton 92835: $1.3 million median \u2013 up 5% in a year, No. 15. Sales up 12% in a year, No. 11 increase.<\/p>\n
\u2013 No. 6 Santa Ana 92706: $1.1 million median \u2013 up 9% in a year, fifth-biggest gain. Sales up 7% in a year, No. 23 increase.<\/p>\n
\u2013 No. 7 Garden Grove 92845: $1.1 million median \u2013 up 3% in a year, No. 28 gain Sales up 31% in a year, second-best increase.<\/p>\n
\u2013 No. 8 Santa Ana 92707: $768,000 median \u2013 up 9% in a year, No. 6 gain. Sales, up 6% in a year, No. 27 increase.<\/p>\n
\u2013 No. 9 Seal Beach 90740: $1.5 million median \u2013 up 4% in a year, No. 22 gain. Sales up 11% in a year, No. 13 increase.<\/p>\n
\u2013 No. 10 Westminster 92683: $1.1 million median \u2013 up 3% in a year, No. 31 gain.\u00a0 Sales up 15% in a year, sixth-best increase.<\/p>\n
The bottom 11<\/p>\n
This group is pricier and more geographically diverse, with four ZIP codes in Irvine.<\/p>\n
Some of these neighborhoods look sluggish because new home construction has slowed. Take Irvine\u2019s 92602, the coldest ZIP code in the county by these numbers.<\/p>\n
This northern patch of the city posted a $2.4 million median price, down 9% in a year and the third-weakest showing. Sales tumbled 27%, the biggest drop of all.<\/p>\n
The rest of the bottom 11:<\/p>\n
\u2013 No. 70 Irvine 92618: $1.6 million median \u2013 off 12% in a year, the county\u2019s weakest. Sales off 7%, No. 11 worst.<\/p>\n
\u2013 No. 69 Irvine 92614: $1.1 million median \u2013 off 8% in a year, fourth-weakest. Sales off 5%, No. 14 worst.<\/p>\n
\u2013 No. 67 Aliso Viejo 92656: $898,000 median \u2013 off 2% in a year, No. 16 weakest. Sales are down 8% in a year, No. 10 worst.<\/p>\n
\u2013 No. 67 San Clemente 92673: $1.7 million median \u2013 off 1% in a year, No. 22 weakest. Sales off 19%, fourth-worst.<\/p>\n
\u2013 No. 66 Laguna Hills 92653: $1.2 million median \u2013 off 8% in a year, fifth-weakest. Sales off 2%, No. 24 worst.<\/p>\n
\u2013 No. 65 Buena Park 90621: $867,000 median \u2013 up 0.4% in a year, No. 29 weakest. Sales off 20%, third-worst.<\/p>\n
\u2013 No. 63 Anaheim 92807: $1.1 million median \u2013 off 2% in a year, No. 15 weakest. Sales off 3%, No. 19 worst.<\/p>\n
\u2013 No. 63 Yorba Linda 92887: $1.4 million median \u2013 off 3% in a year, No. 13 weakest. Sales off 3%, No. 21 worst.<\/p>\n
\u2013 No. 61 Orange 92869: $1.1 million median \u2013 flat in a year, No. 25 weakest. Sales off 5%, No. 15 worst.<\/p>\n
\u2013 No. 61 Irvine 92603: $2.3 million median \u2013 off 4% in a year, No. 9 weakest. Sales, up 1%, No. 31 worst.<\/p>\n
How\u2019d your ZIP do? Go to tinyurl.com\/hot-cold-oc<\/a>. There\u2019s the table below, or CLICK HERE<\/a>!<\/p>\n Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at jlansner@scng.com<\/a><\/p>\n