Special offer

Best Orange County January Home Sales In Four Years

By
Real Estate Agent with TIM LORENZ - Elite Home Sales Team DRE# 00919781

The number of homes sales in Orange County was the best we have seen in four years.  DataQuick reported home sellers closed 1,929 transactions last month.  That is a 3.3 percent increase over January 2010 making it the busiest January since 2007. 

Prices are droping however the median price dropped 2.4 percent to $415,000 it was the second year over year drop, but the first month to month increase since September.   Single Family residences have dropped 3 percent in the same time frame. 

Economists told reporters of the Orange County Register that more bank-owned foreclosures will hit the market in up coming months after being held up by the lender "robo-signing" scandal.  They also felt that short sales would also increase.

With the government and lenders tightening their requirments for home loans it is likely to make selling homes even harder. 

Comments (0)