Dataquick shows the latest home selling stats for the 22 buisness days ended on August 22, the median home-selling price is down to $440,000, off 31.5% vs. a year ago. It hasn't been this low since November 2003.
Steep discounting’s spurring O.C. homebuying, with purchases running 19.4% ahead of the year-ago pace as 12 ZIP codes saw sales volumes double 2007’s totals for the period. July marked the first time since September 2005 that home sales exceeded the year-ago pace.
Single-family homes are $234,000 or 32% below the peak of $734,000 hit in June 2007.Condos are $147,750 or 31% below the peak of $470,000 hit in March ‘06. Newly built homes are $389,500 or 45% below the peak of $864,000 hit in February 2005. Overall, the countywide median is $205,000 or 32% below the peak of $645,000 hit in June 2007.
| Slice |
Price |
Vs. ‘07 |
Sales |
Vs. ‘07 |
| Houses |
$500,000 |
-29.6% |
1,864 |
+27.7% |
| Condos |
$322,250 |
-28.1% |
729 |
+34.8% |
| New |
$474,500 |
-23.8% |
116 |
-56.7% |
| All |
$440,000 |
-31.5% |
2,709 |
+19.4% |
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