Harbor Boulevard Transit Line Completion Lifts Nearby Santa Ana Property Values

The final segment of the Harbor Boulevard Bus Rapid Transit line opened on June 15, sending median sale prices for single-family homes within a half-mile of the new stops up 14 percent in the past quarter.

Orange County Transportation Authority records show the $312 million project added four stations between 1st Street and 17th Street. Buyers now face shorter commutes to jobs in central Orange County, which has tightened inventory in a city where the median home price already sits at $682,000.

Stations near city landmarks drive buyer interest

Homes along 5th Street near the Santa Ana Public Library and the Bowers Museum have recorded the sharpest gains. Three properties on the 1200 block of West 5th Street closed above asking price in the last two weeks, with one four-bedroom house selling for $795,000 after 11 days on the market.

City planning documents list the stations at 5th and Harbor and at 17th and Harbor as the final pieces of the route that now runs from the Santa Ana Regional Transportation Center south to Costa Mesa. The improvements also include new sidewalks and protected bike lanes that connect directly to the Lacy neighborhood.

County assessor data for zip code 92703 shows assessed values for parcels within 800 feet of the stations rose an average of $92,000 between January and June. That compares with a $41,000 average increase in the same period for properties more than a mile away.

Next steps for buyers and sellers

Real estate agents report multiple offers on listings within two blocks of the new stops, especially on streets such as Ross Street and Baker Street. Prospective buyers should review recent comparable sales through the Santa Ana Association of Realtors multiple listing service before making offers, and sellers can expect faster closings if their homes sit inside the station impact zone.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.