Homebuying in Newport Beach, Laguna Beach, Costa Mesa tumbles 20% in worst O.C. slump since ’12

Homebuying in Newport Beach, Laguna Beach and Costa Mesa fell 20.3% in what was Orange County slowest nine months of sales since 2012.

For nine consecutive months through April, CoreLogic housing stats show countywide sales failing to top the year-ago period. We wanted to see how these lethargic sales trends played out at the neighborhood level knowing that homebuying declined in roughly eight of nine local ZIP codes.

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CoreLogic found these 15 trends in 9 ZIP codes covered by The Current, weekly edition of the Orange County Register for beach cities …

1. Purchases: Home sales in these nine months totaled 1,800 vs. 2,259 a year earlier, a decline of 20.3% in a year.

2. Who’s up: Prices increased in 5 of the 9 ZIPs as sales rose nowhere.

3. Countywide: $720,000 median selling price, flat in the period. Orange County sales totaled 22,872 residences, existing and new, vs. 27,289 a year earlier, a decline of 16.2% in a year. Prices rose in 43 out of 83 Orange County ZIPs and sales were up in 9 out of 83 ZIPs.

Here is how prices and sales moved in Newport Beach, Laguna Beach and Costa Mesa …

4. Laguna Beach 92651: $1,825,000 median, up 9.9% in a year. Price rank in Orange County: No. 5 highest of 83. Sales of 250 vs. 340 a year earlier, a decline of 26.5% in a year.

5. Costa Mesa 92626: $810,000 median, up 2.5% in a year. Price rank? No. 25 of 83. Sales of 308 vs. 320 a year earlier, a decline of 3.8% in a year.

6. Costa Mesa 92627: $835,000 median, up 0.8% in a year. Price rank? No. 23 of 83. Sales of 404 vs. 468 a year earlier, a decline of 13.7% in a year.

7. Corona del Mar 92625: $2,497,500 median, down 12.4% in a year. Price rank? No. 3 of 83. Sales of 150 vs. 199 a year earlier, a decline of 24.6% in a year.

8. Newport Beach 92660: $1,700,000 median, down 5.0% in a year. Price rank? No. 6 of 83. Sales of 326 vs. 361 a year earlier, a decline of 9.7% in a year.

9. Newport Beach 92661: $3,150,000 median, up 50.0% in a year. Price rank? No. 1 of 83. Sales of 41 vs. 66 a year earlier, a decline of 37.9% in a year.

10. Newport Beach 92662: $3,000,000 median, down 12.0% in a year. Price rank? No. 2 of 83. Sales of 19 vs. 23 a year earlier, a decline of 17.4% in a year.

11. Newport Beach 92663: $1,550,000 median, up 2.0% in a year. Price rank? No. 7 of 83. Sales of 186 vs. 265 a year earlier, a decline of 29.8% in a year.

12. Newport Coast 92657: $2,489,000 median, down 4.3% in a year. Price rank? No. 4 of 83. Sales of 116 vs. 217 a year earlier, a decline of 46.5% in a year.

Plus, three more countywide trends found in nine months ended in April vs. the same period one year earlier …

13. Single-family-home resales: 13,720 Orange County sales vs. 16,058 a year earlier, a decline of 14.6% in the period. Median: $767,000 — a dip of 1.0% in the period.

14. Condo resales: 6,038 sales vs. 7,218 a year earlier, a decline of 16.3% in 12 months. Median: $500,000 — unchanged in the timeframe.

15. New homes: Builders sold 3,114 residences vs. 4,013 a year earlier, a decline of 22.4% in 12 months. Median: $981,500 — a rise of 7.3% in a year.