Highlights of DataQuick’s Orange County homebuying report. For the 22 business days ending October 12 — the latest numbers — Orange County’s real estate market saw total Orange County sales of 3,113 residences closed in the latest period — that is up 21.8% vs. a year ago. Median selling price for all residences of $455,000 — that is up 7.6% vs. a year ago.
Also:
- $455,000 median selling price is 29% below June 2007′s peak of $645,000.
- Current price is 14% above end of 2011′s median ($400,000.)
- Resales of single family homes were up 20.2% vs last year; condo sales rose 27.1% vs. year ago. Builders’ new homes sales were 17.0% higher in the same period.
- The most recent median is 23% above the cyclical low hit in January 2009 at $370,000 — so the median has recouped 31% of the $275,000 price drop from the peak.
- Compared to cyclical low, single-family house median is 22% higher ($418,250 in January 2009); condo median is 21% higher ($252,000 in March 2009.) Builder prices for new homes are 63% above June 2009′s $424,000 bottom…
…Here’s the breakdown of recent activity by key category; included is how the latest results compare to the average monthly sales pace from 1988 through 2011:
| Slice | Price | Price vs. year ago | Sales | Sales vs. year ago | Sales vs. ’88-’11 avg. |
|---|---|---|---|---|---|
| Houses | $510,000 | +6.3% | 2,104 | +20.2% | -5.6% |
| Condos | $305,000 | +17.3% | 830 | +27.1% | -2.9% |
| New | $692,750 | +14.6% | 179 | +17.0% | -65.0% |
| All O.C. | $455,000 | +7.6% | 3,113 | +21.8% | -13.4% |
This article is from the OC Register, here: “O.C. homebuying surges 22%“–read it in full there.
