Just because Southern California home resales dropped off in 2016 doesn’t mean there weren’t rapid home purchases and resales in various local areas.
Atom reported that 11,148 homes were resold in the four-county region last year, a 3 percent decrease from 2015. Resales accounted for 6.8 percent of all sales in the region.
Below are Orange County's top five ZIP codes for home remodeling according to ATOM, along with 15 surrounding ZIP codes. All saw 10 or more home remodels in 2016, ranking them among the top five areas in the county for the highest percentage of home remodeling transactions as a percentage of total home sales.
Orange County
1. Santa Ana 92703: There were 35 resales last year, accounting for 16.3% of all homes sold and up 105% from 2015. The median purchase price was $360,000 and the median resale price was $455,000, resulting in an estimated gross profit before expenses of $95,000.
2. Santa Ana 92704: 41 resales – 10.7% share – up 21.4%. Purchase price $385,000, resale price $495,000, profit $110,000.
3. Garden Grove 92840: 39 resales – 10.3% share – 51.4% increase. Purchase price $432,000, resale price $550,000, profit $118,000.
4. Anaheim 92806: 21 resales – 9.7% share – 18.8% increase. Purchase price $440,000, resale price $570,000, profit $130,000.
5. Orange 92868: 14 resales – 9 percent share – 31 percent increase. Purchase price $353,050, resale price $430,000, profit $76,950.
See also: Down in Southern California, up nationwide
Los Angeles County
1. Los Angeles 90061: 25 resales – 21.4 percent share – 26 percent increase. Purchase price $230,000, resale price $345,000, profit $115,000.
2. Los Angeles 90062: 34 resales – 21.1 percent share – 21.2 percent increase. Purchase price $273,310, resale price $450,500, profit $177,191.
3. Lynnwood 90262: 37 resales – 20.9 percent share – 53.6 percent increase. Purchase price $286,000, resale price $411,000, profit $125,000.
4. Los Angeles 90047: 74 resales – 20.8 percent share – up 41.4 percent. Purchase price $279,099, resale price $417,500, profit $138,402.
5. Compton 90221: 53 resales – 20.8 percent share – up 10.5 percent. Purchase price $241,000, resale price $355,000, profit $114,000.
Riverside County
Riverside 92509: 74 resales – 11.9% share – up 6.5%. Purchase price $235,250, resale price $341,000, profit $105,750.
Riverside 92504: 67 resales – 11.3 percent share – up 2 percent. Purchase price $235,000, resale price $323,000, profit $88,000.
Moreno Valley 92553: 60 resales – 10.1% share – up 8.8%. Purchase price $197,300, resale price $260,000, profit $62,700.
Riverside 92505: 40 resales – 10 percent share – 29.7 percent increase. Purchase price $247,500, resale price $336,000, profit $88,500.
Riverside 92507: 42 resales – 10 percent share – up 8.2 percent. Purchase price $201,250, resale price $269,750, profit $68,500.
San Bernardino County
1. San Bernardino 92408: 13 resales – 20.3 percent share – 9.7 percent increase. Purchase price $142,000, resale price $203,000, profit $61,000.
2. San Bernardino 92411: 48 resales – 19.3% share – 2.5% increase. Purchase price $125,000, resale price $200,000, profit $75,000.
3. San Bernardino 92410: 50 resales – 18.1% share – 36.1% increase. Purchase price $120,250, resale price $195,000, profit $74,750.
4. Fontana 92335: 82 resales – 14.2% share – up 4.9%. Purchase price $207,500, resale price $300,000, profit $92,500.
5. Lucerne Valley 92356: 14 resales – 14 percent share – 61 percent increase. Purchase price $52,500, resale price $89,750, profit $37,250.
Contact the author at jlansner@scng.com
Originally published: March 22, 2017 at 12:41 pm