In Anaheim Hills, the median price for a single-family residence in August was $628,000 in zip 92807 (36 homes sold) and $693,000 in zip 92808 (21 homes sold). This represents an increase of 1.5% in 92807 and an decrease of 7.6% in 92808 compared to the same month last year. The median price per sq. ft. was $322 in 92807 and $348 in 92808.
Orange County Real Estate
The median price paid for a single family residence home in August was $680,000, an increase of 6.3% over the same period last year. The total number of SF Homes sold in August was 2,035 and the total number of condos sold was 899.
California Homes Sales Cool in August
Following a hotter than usual summer of homes sales, California’s housing market cooled in August, but still posted higher year over year for the seventh straight month.
Home sales remained above the 400,000 mark in August for the fifth consecutive month and rose to the highest level since October 2012. Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 431,800 units in August, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide.
The August figure was down 3.8 percent from the revised 448,900 level in July but up 9.3 percent compared with home sales in August 2014 of a revised 395,080. The year-to-year change was higher than the 6-month average increase of 8.6 percent observed from February 2015 to July 2015.
The median price of an existing, single-family detached California home edged up 1 percent in August to $493,420 from a revised $488,470 in July. August’s median price was 2.5 percent higher than the revised $481,240 recorded in August 2014. The median sales price is the point at which half of homes sold for more and half sold for less; it is influenced by the types of homes selling as well as a general change in values.
Other key points from C.A.R.’s August 2015 resale housing report include:
• While sales continued to improve from last year at the state level, the number of active listings continued to drop from the previous year. Active listings for California decreased 1.4 percent from July and dropped 6.2 percent from August 2014.
• The August Unsold Inventory Index ticked up to 3.6 months from July’s 3.3 months but was down from 4 months in August 2014. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate. A six- to seven-month supply is considered typical in a normal market.
• The median number of days it took to sell a single-family home edged up in August to 29.9 days compared with a revised 29.3 days in July but was down from a revised 33.9 days in August 2014.
• The average price per square foot** for an existing single-family home was $238 in August 2015, down from $241 in July and unchanged from $238 in August 2014. Price per square foot at the state level has been on an upward trend since early 2012, and has been rising on a year-over-year basis for 43 consecutive months. In recent months, however, the growth rate in price per square foot has slowed down to an average of 2.2 percent in the last three months, as home prices started leveling off. In the month of August, there was virtually no growth on a year-over-year basis.
• San Francisco had the highest price per square foot in August with $770/sq. ft., followed by San Mateo ($764/sq. ft), and Santa Clara ($592/sq. ft.). The three counties with the lowest price per square foot in August were Siskiyou ($112/sq. ft.), Merced ($115/sq. ft.), and Kings ($116/sq. ft.).
• Mortgage rates dipped in August, with the 30-year, fixed-mortgage interest rate averaging 3.91 percent, down from 4.05 percent in July and 4.12 percent in August 2014, according to Freddie Mac. Adjustable-mortgage interest rates, however, ticked up in August, averaging 2.60 percent, up from 2.52 in July and 2.37 percent in August 2014.
In Anaheim Hills, the median price for a single-family residence in June was $575,000 in zip 92807 (39 homes sold) and $775,000 in zip 92808 (24 homes sold). This represents an increase of 1.8% in 92807 and an increase of 6.7% in 92808 compared to the same month last year. The median price per sq. ft. was $339 in 92807 and $354 in 92808.
Orange County Real Estate
The median price paid for a single family residence home in June was $680,000, an increase of 4.6% over the same period last year. The total number of SF Homes sold in June was 2,366 and the total number of condos sold was 1,033.
Orange County Real Estate
The median price paid for a single family residence home in May was $668,000, an increase of 3.5.% over the same period last year. The total number of houses sold in May was 2,163 and the total number of condos sold was 1,017.
In Anaheim Hills, the median price for a single-family residence in February was $674,000 in zip 92807 (24 homes sold) and $1,128,000 in zip 92808 (6 homes sold). This represents increases of 22.6% in 92807 and 52.9% in 92808 compared to the same month last year. The median price per sq. ft. was $326 in 92807 and $525 in 92808.
Orange County Real Estate
The median price paid for a single family residence home in February was $640,000, an increase of 31.% over the same period last year. The total number of houses sold in February was 1,305 and the total number of condos sold was 553.
California Real Estate Market
An estimated 25,585 new and resale houses and condos were sold in California in February 2015. That was up 1.0% month over month from 25,325 sales in January 2015, and down 0.4% year over year by 2.0% percent from 25,680 sales in February 2014.
February home sales have varied from a low of 20,513 sales in 2008 to a high of 48,409 sales in 2004. The February 2015 sales were the lowest for that month since 2008, and they were 18.7% lower than the February average of 31,454 sales since 1988, when CoreLogic DataQuick data began.
The median price paid for a home in California in February 2015 was $378,000, up 0.5% month over month from $376,000 in January 2015 and up 6.5% year over year from $355,000 in February 2014.
February 2015 marked the 36th consecutive month in which the state’s median sale price has increased on a year-over-year basis. The peak year-over-year price gain was 29.2 percent in July 2013. Since then the annual gains have generally trended downward and have been single-digit since July 2014.
The February 2015 median price was 21.9% lower than California’s peak median price of $484,000, reached in March/April/May 2007.
Of the existing homes sold statewide in February 2015, 6.8% were properties that had been foreclosed on during the past year. That was up from a revised 6.7% in January 2015 and down from 8.0% in February 2014. Statewide foreclosure resales peaked at 58.8 percent in February 2009.
Short sales made up an estimated 6.2 percent of homes that resold in February 2015, down slightly month over month from 6.7% in January 2015 and down year over year from 9.0 percent in February 2014. Short sales are transactions in which the sale price fell short of what was owed on the property.
The typical monthly mortgage payment for California home buyers in February 2015 was $1,394, up from $1,379 in January 2015 and down from $1,405 in February 2014. Adjusted for inflation, the February 2015 typical payment was 39.7% below the typical payment in the spring of 1989, which was the peak of the prior real estate cycle. It was 51.1% below the current cycle’s peak in June 2006 and 51.2% above the January 2012 trough of the current cycle.
Source: CoreLogic DataQuick; DQNews.com
Average OC Lender Mortgage Rate
As of February 26, 2015, the 30-year fixed was 3.80 percent, and the 15 year fixed was 3.07 percent.
ZIP Codes: 92807, 92808