Market Conditions in 92627>Question Details

Oc Buyer, Home Buyer in CDM

Median prices for non distressed sales in Costa Mesa, CA

Asked by Oc Buyer, CDM Thu Apr 24, 2008

Calling all you agent gurus with access to sales history.... we know that a good percentage of the closed sales this year have been foreclosure and short sales and that these are dragging prices down. However, their supply is a temporary thing. Supposedly the peak from origination is 18-24 mos, so we will see the peak of all of them no later than June 2009. Once that steady supply is gone, we are left with the real world of sellers. Can any of you tell us what the median price per sq ft was for condos and SFR's in Costa Mesa last month of the properties that were not distress sales?

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Dave Osborne’s answer
I have an easy to read report that details the specific information you are looking for as well as a plethora of other pertinent info on Costa Mesa. It is in PDF form and can be emailed you with no obligation or follow-up. Let me know if you would like it.

Web Reference:
0 votes Thank Flag Link Mon May 12, 2008
The median sales price for all homes that sold in Costa Mesa in May 2008, that do not appear to have been distressed sales, was $538,250. The average sales price of those same homes was $640,295.

When distressed properties are added into the mix, there is a small change in the median sales price to $530,000. However, the average price drops to $570,540.

Please let me know if I may provide any additional information.
Web Reference:
1 vote Thank Flag Link Wed Jun 11, 2008
The median sales price for homes in ZIP code 92627 in Costa Mesa from Apr 14 to Jul 14 was $700,000 based on 91 sales. Compared to the same period one year ago, the median sales price increased 29.4%, or $159,000, and the number of sales decreased 22.9%. Average price per square foot for homes in 92627 was $676, an increase of 21.6% compared to the same period last year. There are currently 159 resale and new homes in ZIP code 92627 on Trulia, including 1 open house, as well as 69 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in 92627 was $738,396 for the week ending Jul 23, which represents an increase of 4.5%, or $31,717, compared to the prior week. Popular ZIP codes in Costa Mesa include 92626 and 92627, with average listing prices of $667,924 and $738,396
0 votes Thank Flag Link Mon Aug 4, 2014
Dear OC Buyer,
Here is a snap shot of the last 4 months for Costa Mesa relating to prices:
Month Sale Price, Average List Price, Median
Jan $628,330 $599,000
Feb $611,250 $629,000
Mar $647,552 $684,500
Apr $697,619 $731,944

Even with distressed sales becoming a smaller portion of the segment since the 09 crisis they still exist and affect the sales figures.

If I can be of any further assistance please let me know.
0 votes Thank Flag Link Tue Apr 9, 2013
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