ANAHEIM, Calif. (KNX) — A homebuying boom fueled by the COVID-19 pandemic has resulted in a spike in multimillion-dollar Orange County neighborhoods, and a corresponding dip in affordable areas.
Eleven new zip codes boasted median selling prices of $1 million or more in 2021, according to the calculations of The Orange County Register’s Jonathan Lansner. Thirteen zip codes moved out of the “affordable” category, with median selling prices exceeding $666,667.
Joining the million-dollar category were Irvine’s 92560 ($1.25 million median selling price) and 92618 ($1.15 million); 92886 ($1 million) and 92887 in Yorba Linda ($1.19 million); 92823 in Brea ($1.11 million); 92708 in Fountain Valley ($1.1 million); 92808 in Anaheim ($1.07 million); 90623 in La Palma ($1.06 million); 92626 in Costa Mesa ($1.05 million); 92649 in Huntington Beach ($1.03 million); and 92694 in Ladera Ranch ($1 million).
Orange County only has eight remaining zip codes where median selling price was below $666,667: Midway City’s 92655 ($635,000); 92704 ($630,000), 92707 ($625,000), and 92701 ($418,000) in Santa Ana; 90680 in Stanton ($555,555); 92780 in Tustin ($552,500); 92844 in Garden Grove ($552,000); and 92637 in Laguna Woods ($382,500).
The countywide median home price for October 2021 was $920,000, up 15.7% from 2020. Over the last, prices in Orange County have risen 10% across the board.
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