Orange County Home Prices mid-2017

As we passed through the halfway point of 2017, the housing market in Southern California maintained its red hot pace with home prices hitting all-time high, again, and sales just one notch below their record high since 2006.

According to reports by real estate research firm CoreLogic, the median price of an Orange County home is $695,000 in June 2017.  If we go back exactly one year ago in June, the current home price is 6.1 percent more.  That’s pretty good appreciation and well above the inflation rate of 1.73 perceorange county reportnt from July 2016 to present.

Additional data reports by CoreLogic reveal there were 3,803 closed transactions in June by home buyers and sellers, the second-highest monthly figure dating back to June 2006. The typical June average in Orange County is 4,100 transactions and it is well below the record number of sales which occurred in August 1988 at 6,488.

Another interesting statistic in June, was the $500,000 median price of all Southern California homes. This number has not been touched since August of 2007.  The record high for median home price for all Southern California homes was $505,000, attained on three instances and all in the year 2007.

In Orange County, new construction home transactions are responsible for 30-35% of the sales as of July 2017. Many buyers are choosing to purchase a new home rather than a re-sale home for several reasons. When buying a newly constructed home, the buyer has the option to choose the home design layout, upgrades and special options.

Best Public High Schools in Orange County

1.)    Troy High School
2200 East Dorothy Lane
Fullerton, CA 92831
– A public magnet school that has 2,720 students in grades 9-12. According to state standards, 92% of students at this school are considered proficient in math and/or reading.
– Ranked 3rd in CA overall
– The median home value in 92831 is $581,200. 92831 home values have gone up 9.0% since 2015. and Zillow predicts they will rise 1.4% within the next year.
with 20% down & 4.25% interest rate, loan of $464,960,  the estimated payment to buy is $2,287 Principal & Interest, $544 taxes,$165 insurance.
– Current rents for the same single family home are $3,250.
– By deducting the $19,760 per year in interest, it is more than renting.

Newport Beach coast

2.)    Oxford Academy
5172 Orange Ave
Cypress, CA 90630
1,152 students in grades 7-12
According to state standards, 98% of students at this school are considered proficient in math and/or reading
– Ranked 12th in CA
– The median home value in 90630 is $588,600. 90630 home values have gone up 8.7% over the past year and Zillow predicts they will rise 1.8% within the next year.
with 20% down & 4.25% interest rate, loan of $470,880,  the estimated payment to buy is $2,316 Principal & Interest, 551 taxes,171 insurance.
– Current rents for the same single family home are $4,485
– By deducting the $20,012 per year in interest, it is more than renting.

3.)    Northwood High School
4515 Portola Parkway
Irvine, CA 92620
– holds 2,017 students in grades 9-12. According to state standards, 91% of students at this school are considered proficient in math and/or reading.
– ranked 13th in CA
– The median home value in Irvine 92620 is $811,300. 92620 home values have gone up 7.2% over the past year.
with 20% down & 4.25% interest rate, loan of $649040,  the estimated payment to buy is $3,192 Principal & Interest, $760 taxes, $236 insurance.
– Current rents for the same single family home are $3,916
– By deducting the $27,584 per year in interest, it is more than renting.

4.)   Orange County School of the Arts
1010 North Main St
Santa Ana, CA 92701
– A public charter school that has 1,915 students in grades 7-12. According to state standards, 88% of students at this school are considered proficient in math and/or reading.
– 17th in CA
– The median home value in 92701 is $394,400. 92701 home values have gone up 6.9% over the past year.

5.)   University High School
4771 Campus Dr
Irvine, CA 92612
– has 2,402 students in grades 9-12. According to state standards, 88% of students at this school are considered proficient in math and/or reading.
24th in CA
– The median home value in 92612 is $663,200. 92612 home values have gone up 1.5% over the past year.
with 20% down & 4.25% interest rate , the loan $530,600, the estimated payment to buy is $2,610 Principal & Interest, $621 taxes, $193 for insurance.
– Current rents for the same single family home are $3,300-15,000.
– By deducting the $22,548 per year in interest, it is more than renting.

6.)   Arnold Beckman High School – A+
3588 Bryan Ave
Irvine, CA 92602
The school has 2,554 students in grades 9-12. According to state standards, 83% of students at this school are considered proficient in math and/or reading.
– 36th in CA
– The median home value in 92602 is $881,400. 92602 home values have gone up 13.0% over the past year.
with 20% down & 4.25% interest rate the estimated payment to buy is $3,467 Principal & Interest, 825 taxes, 257 insurance /month.
– current rents for the same single family home are $4,500-8,500.
– By deducting the $54,242 per year in interest, it is more than renting.

7.)    Corona Del Mar High School   –  A+
2101 E.Bluff Dr
Newport Beach, CA 92660
has 2,548 students in grades 7-12. According to state standards, 83% of students at this school are considered proficient in math and/or reading.
– 38th in CA
The median home value for Newport Beach in 92660 is $1,502,500. 92660 home values have gone up 10.9% over the past year
with 20% down & 4.25% interest rate the estimated payment to buy is $6,327 Principal & Interest.
current rents for the same single family home are $8,375.
By deducting the $54,242 per year in interest, it is more than renting.

8. )  Laguna Beach High School – A+
625 Park Ave
Laguna Beach, CA 92651
– has 829 students in grades 9-12. According to state standards, 90% of students at this school are considered proficient in math and/or reading.
– ranks 52nd in CA
– The median home value in 92651 is $1,592,800. 92651 home values have gone up 9.4% over the past year.
with 20% down & 4.25% interest rate the estimated payment to buy is $6,327 Principal & Interest.
– current rents for the same single family home are $5,495-9,000.
– By deducting the $54,242 per year in interest, it is more than renting.

9.)  Woodbridge High School
2 Meadowbrook
Irvine, CA 92604
– has 2,431 students in grades 9-12. According to state standards, 84% of students at this school are considered proficient in math and/or reading
– ranks 56th overall in California.
– The median home value in 92604 is $710,500. 92604 home values have gone up 5.1% over the past year.
with 20% down estimated payment to buy is $2794 Principal & Interest
– Current rents for the same single family home are $2,850
– By deducting the 24,140 per year in interest, it is more than renting.


10.)   Fountain Valley High School

17816 Bushard
Fountain Valley, CA 92708
– has 3,699 students in grades 9-12. According to state standards, 82% of students at this school are considered proficient in math and/or reading
– 82nd in CA
– The median home value in 92708 is $711,800. 92708 home values have gone up 6.8% over the past year
with 20% down & 4.25% interest rate,a loan of $569,400, the estimated payment to buy is $2,801 Principal & Interest.
– current rents for the same single family home are $8,375
– By deducting the $24,199 per year in interest.