As reported by the OC REGISTER, 6/25/10

  • $450,000 median selling price that is up 7.1% from a year ago. However, that’s still 30% below June 2007’s peak of $645,000.
  • Single-family home prices were up 9.5% to $520,000. If prices remain unchanged for the full month, it will be the highest house price since June 2008.
  • Condo prices were up 6.9% to $310,500 — down slightly from May’s median price of $305,000.
  • Despite that gain, single-family homes still sell for 29% less than their peak pricing (June ‘07) while condos sell 36% below their peak in March 2006. Builder prices for new homes are 28% below their February ‘05 top.
  • In this most recent period, O.C. shoppers bought 3,349 residences — that’s up 11.5% from year-ago buying activity. (From 1997-2006, monthly sales averaged 4,304 per month.)
  • May was 22nd month in the past two years to see sales gains vs. the year-ago period. That followed a 33-months slump where sales failed to beat the previous year’s pace.

How did your neighborhood fare? Check our ZIP-by-ZIP data HERE!

Your thoughts and feedback on this topic are greatly appreciated. Please feel free to post your comments.

Keeping you informed about the Orange County real estate market, economy and life in the OC is what I'm committed to doing.

For more great Orange County market insight and industry news visit Laguna Niguel Real Estate or view the Orange County Market Trends at Orange County Real Estate.

Listen to Zen's Laguna Niguel Real Estate Podcast available 24/7.

SEARCH ORANGE COUNTY'S BEST HOMES at Orange County MLS Home Search