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Irvine’s Woodbridge neighborhood, it seems, has the most housing zip.
Irvine 92614 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 ranked 10 of 83 for pricing; 5 for sales; and 6 in terms of foreclosures frequency in the community. In the previous quarter, this ZIP ranked 12 of 83 overall.
Second strongest was Irvine 92604 followed by Newport Beach 92663 as third best.
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 $558,500 – that’s +10% vs. the middle of the pack.
- Price momentum of the top 25 — activity vs. a year ago was 5% compared to 0% for the middle of the pack.
- Sales momentum of the top 25 — activity vs. a year ago was 35% compared to 15% for the middle of the pack.
- Forecloures occurred in the top 25 ZIP at a rate of 1.8 homes per 1,000 vs. 2.7 for the middle of the pack.
- Forecloures momentum in the top 25 ZIP — change vs. a year ago — was 10% compared to 22% for the middle of the pack.
- Who was at the bottom of the Zippy list? CLICK HERE!
- 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.