Yorba Linda Home Sales Up!

The Orange County housing market is ending the year in style, with the fastest year – over-year appreciation in nearly 4 years.

YORBA LINDA Y.T.D.
Zip	Price	Yr. ago	Sales	Yr. ago
92886	$595,000	+1.2%	64	+6.7%
92887	$555,000	+0.9%	25	+31.6%

Orange County saw …

$440,000 median selling price that is +10.0% vs. a year ago. Last time we saw faster appreciation was in March 2006.

Latest median is -32% below June 2007’s peak of $645,000.

The most recent median is 19% above the cyclical low hit in January 2009 at $370,000 — a current bottom that was -43% below the 2007 peak.

Prices fell on a year-over-year basis from Sept. 2007 through August. (Worst at -31.5% in August 2008.)

Single-family homes resell for 31% less than their peak pricing (June ‘07) while condos sell 36% below their peak in March 2006. Builder prices for new homes are 40% below their February ‘05 top.

In this most recent period, O.C. shoppers bought 3,117 residences — that is +14% vs. year-ago buying activity. (From 1997-2006, monthly sales averaged 4,304 per month.)

November marked 16 out of 17 months with sales gains vs. the year-ago period. That followed 33 consecutive months where sales failed to beat the previous year’s pace.

Many communities had gains in their respective median selling price…

6 of 83 O.C. ZIPs had median sales prices above $1 million in the period vs. million-dollar ZIPs when the county median price peaked in

June 2007.

Since that pricing pinnacle, there’s been a -32% drop in the county wide median Price. That said, 57 of 83 O.C. ZIPs had year-over-year sales gains in the period.

Overall, county wide sales were +14.0% vs. a year ago and 10 of 83 O.C. ZIPs had sales gains of 100% or more in the period.