Irvine home sale activity report (February)(includes resales and new homes, SFR and condos)

[IIIrvine_IHB]

<strong><em>% Change is from the same month last year</em></strong>


Median % change Sales % change


92602 $715,000 7.0% 23 -25.8%


92603 $650,000 0.9% 16 -7.1%


92604 $529,500 -17.7% 10 -38.5%


92606 $575,000 -16.3% 20 -50%


92612 $528,000 -0.6% 22 -33.3%


92618 $580,000 16.2% 15 7.1


92620 $550,000 -18.8% 39 -43.5%

 

[effenheimer_IHB]

145? What is the date range?

 

[fk123_IHB]

do you have 92614? that would be for westpark/woodbridge. thanks!

 

[IIIrvine_IHB]

Irvine

92614

$528,000

0.6%

22

0.0%










This is for Home Sales Recorded in February 2007, so the date range is assuming to be 02/01 - 02/28<strong> </strong>

 

[GrewUpInIrvine_IHB]

92620 - that esentially is all of Woodbury right? So sales were down almost 40% from a year ago? Wow! But is this number just the "resales" or does it include "new home" sales?

 

[irvinesinglemom_IHB]

GrewUpInIrvine - sorry to give you the bad news but 92620 also includes all of Northwood (both the nice, brand new stuff and the Brady Bunch neighborhoods). So you can't assume that much about just Woodbury.



Personally I am expecting Woodbury to CRASH and BURN in 2007/2008 when all the 3-year ARMs come due from when the homes first debuted in 2004/2005. The majority of Woodbury homes were purchased in 2004/2005: the height of the insanity.



It'll have to be renamed Bloodbury.

 

[IIIrvine_IHB]

Yes, this is for both resales and new homes, and includes SFR as well as condos. What I do know is that new homes are recorded when the contract is signed, where resales are recorded when escrow closes, which I think is a bit odd to have a mixed bag within the same report. What I don't know is if it adjusts for cancellation after the sale has been reported. IMO, the Case-Shiller index would have been a better indicator of what the real trend is b/c it measures by "sale pair", or price change for the same house (i.e. two or more recorded arms length sale transactions). For Q4 ending in December, the Los Angeles MSA shows a 2.0% YOY, but a -1.1% MOM (December/November sales).