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Newport Beach most improved home market

November 25th, 2009, 10:00 am · 8 Comments · posted by Jon Lansner

newport-beachHousing markets in four Newport Beach ZIPs enjoyed Orange County’s biggest improvement in their Zippy market-strength rankings in the third quarter.

Our Zippy rankings measured Orange County neighborhood housing markets by pricing and sales momentum plus foreclosure frequency as measured by DataQuick stats. We track market progress by quarter-to-quarter change in Zippy ranking.

Newport Beach 92663 had the biggest gain, up 74 spots to 4th place in the third-quarter Zippy rankings. The four Newport gainers by no means suggests that there was something magical about seaside property in the past quarter. Dana Point’s two ZIP codes could be found among the 10 Zips with the biggest declines in Zippy rankings.

It seems that price was more a key factor in how the third quarter played out in the local housing market as measured by the Zippy rankings.

The 25 Zips with the greatest improvement in Zippy rankings had a median selling price of $555,000. The Bottom 25, in terms of quarter-to-quarter change in Zippy rankings, had a median selling price of $430,000.

Here’s a look at the 10 ZIPs with biggest advancement and decline in their respective Zippy rankings between Q2 and Q3 …

ADVANCING DECLINING
Rank Move Town ZIP Price -- Rank Move Town ZIP Price
4 +74 Newport B. 92663 $1,075,000 49 -37 Orange 92865 $430,000
3 +64 Corona dM 92625 $1,470,000 57 -37 Irvine 92612 $450,000
9 +55 Newport B. 92662 $1,741,000 70 -37 Anaheim 92802 $315,000
14 +55 Garden Grove 92845 $466,000 72 -37 Fullerton 92831 $392,500
16 +50 Laguna Niguel 92677 $530,500 81 -38 Santa Ana 92701 $130,000
17 +47 Fullerton 92835 $555,000 44 -41 Irvine 92602 $640,000
30 +47 Brea 92823 $655,000 45 -43 Dana Point 92624 $500,000
43 +38 Np’t Coast 92657 $1,450,000 64 -59 Irvine 92603 $725,000
21 +34 Irvine 92620 $582,500 78 -60 Garden Grove 92840 $325,750
39 +33 Foothill Ranch 92610 $480,000 74 -67 Dana Point 92629 $587,500

PS: What’s a Zippy?

  • WHO? Columnist Jon Lansner’s ranking of O.C.’s 83 ZIP codes.
  • WHAT? Tally of 3 key home-market performance benchmarks: Pricing and sales momentum (year-over-year change) plus foreclosure density (per homes in neighborhood).
  • WHY? All rankings need a nickname, thus, “Zippys.”
  • 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.
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