Irvine’s 92614 & 92606 Holding Their Own in Housing Prices
According to an article in The Orange County Register, recent DataQuick numbers show that seven of the 82 Orange County ZIPs increased in price when compared to sold prices a year ago. Two of these, 92614 and 92606, are in Irvine. It will take a lot of digging into the numbers to determine if this is a long-term trend or some other explanation for these up-pricing numbers exit. For now, I will just put this information on the table. If anyone has any insight or comments on this, please leave your thoughts in the comment section.
Most of the neighborhoods in Irvine don’t fit nicely within the ZIP codes in Irvine. Usually, one ZIP contains multiple Irvine neighborhoods and/or an Irvine neighborhood is in multiple ZIP codes. This is true for the 92614 and 92606 ZIP codes.
92614-includes part of the Woodbridge neighborhood
The 92614 ZIP includes only the lower part of Irvine’s Woodbridge neighborhood. The upper part of Woodbridge is in the 92604 ZIP. All the housing in the 92614 ZIP is in the lower part of the Woodbridge neighborhood; some of the area in the 92614 ZIP is outside of the Woodbridge community, but this area is commercial with no housing. Also, there might be a few Irvine homes in the 92614 ZIP that are not part of Woodbridge, but I haven’t come across them.
Woodbridge contains two lakes and there is a certain amount of prestige in saying you live on the lake. Whether this has anything to do with recent good showing for the sold homes in Woodbridge’s south lake area, I am not yet prepared to say.
92606 includes the Walnut neighborhood and part of the Westpark neighborhood
The 92606 ZIP contains the Walnut neighborhood and part of the Westpark neighborhood. Anything that I could say concerning the reason for the up-prices in this ZIP would be speculation at this time, so I will leave that for a more in depth investigation at a future date.
If you don’t want to wait for me and want to start digging into these numbers yourself, Redfin has some new tools to help you with this. For more information on this, see my next post (“It’s New. It’s Improved. It’s Redfin’s New Inventory & Pricing Tools. And More…”).
