Orange County home purchase lead time has cut the number of million-dollar ZIPs by nine since May.

My trusty spreadsheet, filled with September home purchase statistics from CoreLogic for 83 Orange County zip codes, shows how house prices have reversed since spring. “Expensive” ZIPs are those with an average retail price of $ 1 million and higher, while “affordable” neighborhoods are those with a median of $ 750,000 or lower.

Let’s take a look at how the ranks of expensive and affordable communities have changed since the beginning of the summer

September: 38 seven-digit ZIPs with 1,019 sales: 45% of all purchases versus 10 affordable ZIPs with 261 sales or 11% of all purchases.

August: $ 41 million ZIP with 1,296 sales: 51% of all purchases versus 8 affordable ZIPs with 227 sales or 9% of all purchases.

July: 45 seven-figure ZIPs with 1,210 sales: 53% of all purchases versus 11 affordable ZIPs with 129 sales or 6% of all purchases.

June: $ 45 million ZIP with 1,500 sales: 54% of all purchases versus 7 affordable ZIPs with 137 sales or 5% of all purchases.

May: 47 seven-digit ZIPs with 1,524 sales: 52% of all purchases versus 8 affordable ZIPs with 324 sales or 11% of all purchases.

However, the ranks of million-dollar zip codes have grown in two years as the count of affordable communities shrank due to the pandemic-era home shopping binge.

September 2021: $ 29 million ZIP with 1,261 transactions: 37% of all purchases and 19 “cheap” ZIPs with 609 sales or a slice of 18%.

September 2020: 17 ZIPs over $ 1 million with 481 closures – a 31% chunk of 45 ZIPs below $ 750,000 with 1,084 purchases or 69% of all sales.

These swings are reflected in the county’s median price. At $ 950,250 for September, it’s up 7% in one year, but the latest price is 9% lower than May’s record of $ 1,054 million.

Times have changed. High prices and soaring mortgage rates have frightened home hunters.

September saw 34% fewer sales at all price levels across the county than a year earlier. The 38 seven-digit ZIPs recorded 41% fewer sales. ZIPs under $ 750,000 dropped 23%.

Let’s take a look at which communities landed in Orange County’s million-dollar club in September and the most affordable neighborhoods.

Keep in mind that the monthly sales data for individual zip codes can be volatile, so the price trend may reflect a different mix of homes sold, without changing the values. (Data for all Orange County ZIPs is available at bit.ly/septemberpriceoc)

New to the club

These nine million dollar zip codes weren’t club members in September 2021 …

  • Brea 92823: $ 1.6 million – up 76%.
  • Yorba Linda 92887: $ 1.2 million – up 42%.
  • Irvine 92606: $ 1.1 million – up 47%.
  • Orange 92867: $ 1.1 million – up 19%.
  • Yorba Linda 92886: $ 1.1 million – up 10%.
  • Forest of Lake 92630: $ 1.1 million – up 16%.
  • Irvine 92612: $ 1.1 million – up 37%.
  • Ranch at 92610 feet: $ 1 million – up 23%.
  • Laguna Niguel 92677: $ 1 million – up 7%.

Still members

The 29 ZIPs return to the seven-figure club …

  • Newport Coast 92657: $ 8.9 million – up 120%.
  • Newport Beach 92662: $ 4.5 million – up 29%.
  • Laguna Beach 92651: $ 3.3 million – up 23%.
  • Newport Beach 92661: $ 2.8 million – 40% discount.
  • Crown of March 92625: $ 2.7 million – up 10%.
  • Newport Beach 92660: $ 2.7 million – up 40%.
  • Irvine 92602: $ 2.4 million – up 59%.
  • Villa Park 92861: $ 2.2 million – up 48%.
  • Dana Point 92624: $ 1.8 million – up 27%.
  • Irvine 92603: $ 1.8 million – up 13%.
  • Newport Beach 92663: $ 1.8 million – 5% discount.
  • Dana Point 92629: $ 1.7 million – up 30%.
  • San Clemente 92672: $ 1.7 million – up 43%.
  • San Clemente 92673: $ 1.6 million – up 18%.
  • San Juan Capistrano 92675: $ 1.6 million – up 23%.
  • Irvine 92618: $ 1.5 million – up 39%.
  • Huntington Beach 92649: $ 1.5 million – up 41%.
  • Irvine 92620: $ 1.4 million – up 14%.
  • Laguna Hills 92653: $ 1.4 million – up 38%.
  • Huntington Beach 92648: $ 1.4 million – up 19%.
  • Trabuco / Coto 92679: $ 1.3 million – up 2%.
  • Los Alamitos 90720: $ 1.3 million – at a 6% discount.
  • Seal Beach 90740: $ 1.2 million – at a 27% discount.
  • Costa Mesa 92627: $ 1.2 million – up 13%.
  • Santa Ana 92705: $ 1.2 million – up 3%.
  • Costa Mesa 92626: $ 1.1 million – up 4%.
  • Fountain Valley 92708: $ 1.1 million – up 10%.
  • Irvine 92604: $ 1.1 million – up 3%.
  • Tustin 92782: $ 1.1 million – 4% discount.

OC ‘deal’

And the 10 ZIPs under $ 750,000 …

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