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Newport Beach 92660 had Orange County’s zippiest housing market in the most recently concluded quarter.
So says our Zippy rankings that weigh pricing and sales momentum plus foreclosure frequency as measured by DataQuick stats.
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.
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).
When you look at the 83 major ZIPs in the county and their Zippys rankings, you see these trends for the best-performing communities:
- The top 25 had a median selling price of $635,000 – that’s +35% vs. the middle of the pack.
- Price momentum of the top 25 — activity vs. a year ago was 17% compared to 8% for the middle of the pack.
- Sales momentum of the top 25 — activity vs. a year ago was 54% compared to 5% for the middle of the pack.
- 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.
- Forecloures momentum in the top 25 ZIP — change vs. a year ago — was 11% compared to -2% for the middle of the pack.
- 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.
- Two Santa Ana ZIPs finish last in Zippy rankings.
- See this coming Sunday’s Register for more analysis.
PS: What’s a Zippy? Read the rest of this entry »