Where the sales are: Most L.A. sales by ZIP Code

Yesterday's MDA DataQuick report clearly shows a rebound in home sales activity across Southern California in July. I thought it would be instructive to look at the ZIP Codes where the most transactions took place. I understand this is a ham-fisted analysis: ZIP Codes vary wildly in population. Still, it gives you an idea of where sales, in absolute numbers, are highest. Note: You can check ZIP Code trends in any ZIP in Southern California using this handy LATimes.com widget.

Here are the top 10 ZIPs ranked by transactions:

Area/ZIP              # of homes sold  Median price   % change in price from '07
Lancaster 93535   131                    $148,000        -25.9%
Lancaster 93536   116                    $240,000        -31.4%
Palmdale  93550   105                    $150,000        -49.5%
Palmdale  93551    96                     $270,000        -38.2%
Lancaster 93534    82                     $124,000        -54.3%
Norwalk   90650     75                     $320,000        -30.4%
Palmdale 93552     75                     $190,000        -37.7%
Reseda    91335     54                    $355,000        -33.1%
Long Beach 90808  51                    $475,000        -21.7%
Long Beach 90805  46                    $298,000        -25.6%

Analysis: When the median price gets down to $124,000, as it is now in parts of Lancaster, you're looking at a lot of sub-$100K properties. Clearly this list is dominated by the Antelope Valley, which has more in common with the housing markets of the Inland Empire than it does with the rest of L.A. County.
--Peter Viles
Thoughts? Comments? What ZIP Codes are you watching, and what trends to you see there?

Comments

[Rational Renter]

Yeah, L.A. County sales are still down, despite SoCal sales as a whole being up. Sales will rise as prices continue to plummet, however.

[FreedomCM]

Peter,

Love the tool, but it is misconfigured.

Only gives first 250 results.

If you try to "search again", you get:
June home sales and prices, and second-quarter foreclosures, by ZIP Code. Updated July 22, 2008.
This Caspio Bridge DataPage is not configured for external access. (Caspio Bridge error) (50510)

[mike]

124000 DOLLARS WITH 3% DOWN IS LIKE $3700. PLUS CLOSING COSTS ETC...SOUNDS LIKE A HOUSE THERE AND A COMMUTE TO GREATER L.A. IS AFFORDABLE AND WORTH IT AGAIN.....

YOU COULD DO IT ON WELFARE IF YOU HAD ENOUGH KIDS...

[shockg]

Housing is local. The median is only a reflection of whats selling right now. Sorry laker.

[WanderingJew]

Not as low as the Antelope Valley, but I have driected friends to the Castaic area for really good deals on stick build homes, mostly foreclosures with many now in the low to mid 200's.

Granted, it's not Valencia or Stevenson Ranch, but a hell of a lot closer to the Valley and L.A. than Lancaster and Palmdale and the traffic is not as heavy on the I-5 than what it is on the 14.

Castaic is literally 10 minutes from all the wonderful stores, shopping and restaurants in Valencia and Stevenson Ranch, and Castaic is closer to Valencia than Canyon Country is with much less traffic.

Not a shrill for Castaic, but I have been able to find really good deals on homes that are in fairly decent shape, relatively new (less than 10 years) and not manufactured or a condo.

Of course, perform your own due dilligence, have the home inspected and check for Mello-Roos obligations, and if any, factor that in to your monthly payment.

Castaic is now an option for those who have desired to live in the Santa Clarita Valley, are not crazy about Canyon Country and cannot afford Valencia or Stevenson Ranch.

Considering that gas prices will eventually rise more than today's already high prices, Castaic might be that diamond in the rough when you consider fuel expense vs. a shorter commute even for a more costly home than the lower prices in the Antelope Valley.

Just a thought...

[esp4p3]

Places like Simi Valley have a long way to go in terms of prices. My wife and I are browsing houses here and we have 20% ready to put down, but prices are still out of wackso we are waiting. We went to some open houses over the weekend and the only somewhat reasonable house was priced at 597k for a 2700 sq ft house in a decent neighborhood. Even that in my mind is too high. 3 other similiar houses, a little bigger, were on the market for 709k and 799k. The one for 799k was 3500 sq ft. Yes this is a big house but I about choked when the agent told me the price. WOW people are still delusional. In my mind the 799k house is worth maybe 600k if that.

[anthony]

Prices in my area are still far too high. I'm looking mostly between la cienega and la brea, all the way from pico on the south to sunset on the north. mostly 90019, 90036, 90035, 90069 and 90048.

It's hard to find a single family home in this area for under $1 million (unless it is in the ghetto areas, totally dilapidated, tiny, or on a busy street). I think prices on 3 bedroom, 1600-1800 square feet homes in safe areas, and not located on a busy through street should be between $400k and $650k. Wonder if we'll get there.

There are some homes that (almost) fit that description in the 90019 zip code, in the $650-$750k range, but that's the worst of these areas by far.

[Laker]

Peter,
Lancaster and palmdale are ahead of the game and are leading the good parts of LA county by at least 18 months or so.
Look again at the end of 2009....Westside, Pasadena, Redondo beach, Hermosa, san marino, etc will be selling for 2001 prices...
The majority of buyers in these "nice" areas used option ARMS....
sorry shock....

[Chris]

esp4p3,

Seems they'd rather keep the prices there artificially inflated and have the listing sit, rather than allow it to fall below their "bragging" levels.

Although that little zipcode tool is showing that theres been a roughly 25% drop in prices in the simi zips.

[robert tapia]

how did these people qualify ?
following strict underwritting or doing the same thing over again?