As reported in in OC Register, July 23, 2010
Orange County home sales and selling prices remain ahead of a year-ago after the passing of a deadline for a federal homebuying tax break — then that deadline was extended.
For the 22 business days ending July 8 – DataQuick’s latest homebuying report — Orange County saw …
For the 22 business days ending July 8
| Slice | Price | Yr. ago | Sales | Yr. ago |
| Houses |
$515,000 |
+4.8% |
2,035 |
+1.9% |
| Condos |
$300,000 |
-2.0% |
929 |
+7.4% |
| New |
$524,500 |
+23.6% |
309 |
+122.3% |
| All O.C. |
$447,500 |
+6.5% |
3,273 |
+9.0% |
- $447,500 median selling price that is +6.5% vs. a year ago yet -31% below June 2007’s peak of $645,000.
- The most recent median is 21% above the cyclical low hit in January 2009 at $370,000 — so the median has recouped 28% of the $275,000 price drop from the peak.
- The median selling price of a single-family homes is 30% less than their peak pricing (June ‘07) while condos sell 36% below their peak in March 2006. Builder prices for new homes are 39% below their February ‘05 top.
- Single-family homes were 72% more expensive than condos in this period vs. 61% a year ago. From 1990-2009, the average house/condo gap was 58%.
- In this most recent period, O.C. shoppers bought 3,273 residences — that is +9% vs. year-ago buying activity. This current sales pace is 91% of the average 3,597 homes sold per month in the 20 years ended in 2009.
- Builder’s new homes sales were 9% of all residences sold in the period vs. 5% a year ago. From 1990-2009, builders did 14% of the selling.
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