OC BUYING UP 3.30% OVER PRIOR YEAR!

By
Real Estate Agent with Prudential California Realty

OC BUYING UP 3.30% OVER PRIOR YEAR!

For more information please go to www.leanneboman.com.

Read the full story from the OC Register by clicking HERE!

orange county real estate market

For the 22 business days ending July 21st - DataQuick's latest home-buying report; Orange County saw ...

  • 2,996 residences sold - that is +3.3% vs. year-ago buying activity.  The last time year-over-year sales growth was slower for a full month was October 2009.
  • Clearly, the end of the federal tax break is behind the sluggish growth as June sales were 15.7% above a year ago; May's were up 22%.
  • This current sales pace is 83% of the average 3,597 homes sold per month in the 20 years ended in 2009.
  • $450,000 median selling price that is +5.9% vs. a year ago and -30% below June 2007's peak of $645,000.
  • The most recent median is 22% above the cyclical low hit in January 2009 at $370,000 - so the median has recouped 29% of the $275,000 price drop from the peak.
  • The median selling price of a single-family homes is 28% less than their peak pricing (June ‘07) while condos sell 37% below their peak in March 2006. Builder prices for new homes are 32% below their February ‘05 top.
  • Single-family homes were 78% more expensive than condos in this period vs. 65% a year ago. From 1990-2009, the average house/condo gap was 58%.
  • Builder's new homes sales were 10% of all residences sold in the period vs. 4% a year ago. From 1990-2009, builders did 14% of the selling.

Joe Curtis

Pickford Escrow & The Escrow Firm

Comments (1)

Carol Zingone
Berkshire Hathaway Home Services Florida Network Realty - Jacksonville Beach, FL
Global Realtor in Jax Beach, FL - ABR, CRS, CIPS

Thanks for sharing positive news! I know 3.3% may not seem like a lot, but it is a trend in an upward direction, and we are all thrilled with it!

Aug 21, 2010 11:40 PM