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- A mid-sized city in southern Orange County in the famed Southern California area, Alison Viejo is home to a population of more than 40,000 and is a relatively new city, having been incorporated only in 2001. The city has a relatively wealthy makeup, with residents having a median household annual income in 2007 of more than $92,000. Since residents here tend to be wealthier than average, Alison Viejo real estate also tends to have higher prices and is out of reach for many homebuyers. The city has seen its real estate prices fall over the past couple of years though, and many who thought they had no chance of snatching up a deal in Alison Viejo have been able to buy a short sale or foreclosed home at a great price.According to the Orange County Register annual zip code chart, at the end of 2009, the median price for homes in Alison Viejo was $393,000, a decline in price of nearly 10% year-over-year. Despite the falling prices, or, rather, because of them, sales activity in the city rose annually to 887 homes sold in 2009, an increase of 6.5%. More recently, signs seem a bit more positive. In March 2010, there were 77 Alison Viejo homes for sale that sold, an increase of 40%, and the median price was $371,000, down from 2009’s median but up by 5.25% from the median price in March 2009.
More recently, the price has fallen even further, though sales activity is still up year-over-year. According to the Orange County Register Real Estate Blog, for a three-week period ending April 21, the median price of homes sold in Alison Viejo was $383,000, a 4.3% decline over the same three-week period a year earlier. However, there were 69 homes sold during that period, an improvement of 19% since the same period in 2009.
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