Newport Beach homes own the most zip

By: Allan Heller ~ June 3, 2010

XXXp>Below is an interesting XXXa href=”” target=”_blank”>OC Register articleXXX/a> pointing out how the Newport Beach area housing market has improved over the last quarter.XXX/p> XXXblockquote>XXXp>Newport Beach homes own the most zipXXX/p> XXXp>June 3rd, 2010, 12:01 am · posted by Jon LansnerXXX/p>XXXp>Newport Beach 92660 had Orange County’s zippiest housing market in the most recently concluded quarter.XXX/p> XXXp>So says our Zippy rankings that weigh pricing and sales momentum plus foreclosure frequency as measured by DataQuick stats.XXX/p> XXXp>This ZIP — running from Back Bay to around Fashion Island up to the toll road –ranked 7 of 83 for pricing; 2 for sales; and 6 in terms of foreclosures frequency in the community. In the previous quarter, this ZIP ranked 19 of 83 overall.XXX/p> XXXp>Second strongest was Newport Beach 92663 – from the pier to around the bay up to Hoag Hospital — followed by Irvine 92614 as third best. The beach theme in the Top10 also included Laguna Beach 92651 (#5); Newport Coast 92657 (#6); and Newport Beach 92661 — basically, most of the Balboa Peninsula (#8).XXX/p> XXXp>When you look at the 83 major ZIPs in the county and their Zippys rankings, you see these trends for the best-performing communities:XXX/p> XXXp>* The top 25 had a median selling price of $635,000 – that’s +35% vs. the middle of the pack.XXX/p> XXXp>* Price momentum of the top 25 — activity vs. a year ago was 17% compared to 8% for the middle of the pack.XXX/p> XXXp>* Sales momentum of the top 25 — activity vs. a year ago was 54% compared to 5% for the middle of the pack.XXX/p> XXXp>* Forecloures occurred in the top 25 ZIP at a rate of 1.4 homes per 1,000 vs. 2.6 for the middle of the pack.XXX/p> XXXp>* Forecloures momentum in the top 25 ZIP — change vs. a year ago — was 11% compared to -2% for the middle of the pack.XXX/p>
XXXdiv style=”float:clear”>XXX/div>
XXXtable padding=”5″ style=”float: right; width: 400px; text-align: center;margin-left:10px;margin-bottom:10px” border=”1″>XXXtbody>XXXtr style=”background-color:orange”>XXXtd>RankXXX/td> XXXtd>Prev.XXX/td> XXXtd>TownXXX/td> XXXtd>ZIPXXX/td> XXXtd>PriceXXX/td> XXXtd>Pricing rankXXX/td> XXXtd>Sales rankXXX/td> XXXtd>FC rankXXX/td>XXX/tr> XXXtr>XXXtd>1XXX/td> XXXtd>19XXX/td> XXXtd>Newport BeachXXX/td> XXXtd>92660XXX/td> XXXtd>$1,126,500XXX/td> XXXtd>7XXX/td> XXXtd>2XXX/td> XXXtd>6XXX/td>XXX/tr> XXXtr>XXXtd>2XXX/td> XXXtd>42XXX/td> XXXtd>Newport BeachXXX/td> XXXtd>92663XXX/td> XXXtd>$962,500XXX/td> XXXtd>4XXX/td> XXXtd>7XXX/td> XXXtd>15XXX/td>XXX/tr> XXXtr>XXXtd>3XXX/td> XXXtd>17XXX/td> XXXtd>IrvineXXX/td> XXXtd>92614XXX/td> XXXtd>$495,000XXX/td> XXXtd>19XXX/td> XXXtd>4XXX/td> XXXtd>5XXX/td>XXX/tr> XXXtr>XXXtd>4XXX/td> XXXtd>51XXX/td> XXXtd>IrvineXXX/td> XXXtd>92618XXX/td> XXXtd>$540,000XXX/td> XXXtd>12XXX/td> XXXtd>1XXX/td> XXXtd>22XXX/td>XXX/tr> XXXtr>XXXtd>5XXX/td> XXXtd>28XXX/td> XXXtd>Laguna BeachXXX/td> XXXtd>92651XXX/td> XXXtd>$1,250,000XXX/td> XXXtd>11XXX/td> XXXtd>10XXX/td> XXXtd>17XXX/td>XXX/tr> XXXtr>XXXtd>6XXX/td> XXXtd>33XXX/td> XXXtd>Newport CoastXXX/td> XXXtd>92657XXX/td> XXXtd>$1,686,250XXX/td> XXXtd>14XXX/td> XXXtd>13XXX/td> XXXtd>13XXX/td>XXX/tr> XXXtr>XXXtd>7XXX/td> XXXtd>45XXX/td> XXXtd>FullertonXXX/td> XXXtd>92835XXX/td> XXXtd>$570,000XXX/td> XXXtd>32XXX/td> XXXtd>9XXX/td> XXXtd>18XXX/td>XXX/tr> XXXtr>XXXtd>8XXX/td> XXXtd>3XXX/td> XXXtd>Newport BeachXXX/td> XXXtd>92661XXX/td> XXXtd>$3,300,000XXX/td> XXXtd>1XXX/td> XXXtd>63XXX/td> XXXtd>1XXX/td>XXX/tr> XXXtr>XXXtd>9XXX/td> XXXtd>33XXX/td> XXXtd>IrvineXXX/td> XXXtd>92603XXX/td> XXXtd>$830,000XXX/td> XXXtd>16XXX/td> XXXtd>24XXX/td> XXXtd>28XXX/td>XXX/tr> XXXtr>XXXtd>10XXX/td> XXXtd>8XXX/td> XXXtd>OrangeXXX/td> XXXtd>92866XXX/td> XXXtd>$483,000XXX/td> XXXtd>30XXX/td> XXXtd>37XXX/td> XXXtd>4XXX/td>XXX/tr>XXX/tbody>XXX/table>
XXXp>* At right is last quarter’s 10 zippiest ZIPs, as measured by Zippy math, and their respective rankings (1 best; 83 worst) in terms of pricing and sales momentum and foreclosure frequency.XXX/p> XXXp>* Two Santa Ana ZIPs finish last in Zippy rankings.XXX/p> XXXp>* See this coming Sunday’s Register for more analysis.XXX/p> XXXp>PS: What’s a Zippy?XXX/p> XXXp>* WHAT? Tally of 3 key home-market performance benchmarks: Pricing and sales momentum (year-over-year change) plus foreclosure density (per homes in neighborhood).XXX/p> XXXp>* WHY? All rankings need a nickname, thus, “Zippys.”XXX/p> XXXp>* HOW? Using DataQuick data for most recent quarter we rank the 83 ZIPs by price, sales and foreclosure — then determine overall ranking by each ZIP’s average ranking.XXX/p> XXXp>via XXXa href=””>Newport Beach homes own the most zip – Lansner on Real Estate : The Orange County RegisterXXX/a>.XXX/p>XXX/blockquote> XXXp>What are your thoughts?XXX/p>XXXscript src=’’ type=’text/javascript’>XXX/script>XXXscript src=’’ type=’text/javascript’>XXX/script>

Leave a Reply

You must be logged in to post a comment.