Showing posts with label Home selling season. Show all posts
Showing posts with label Home selling season. Show all posts

Saturday, April 3, 2010

OC Homebuyers paying 11.8% more this year

For the 22 business days ending March 15 – DataQuick’s latest homebuying report — Orange County saw …

For the 22 business days ending March 15
SlicePriceYr. agoSalesYr. ago
Houses $505,000 +14.8% 1,608 -3.8%
Condos $290,000 +16.0% 878 +23.3%
New $539,000 +7.8% 98 +12.6%
All O.C. $425,000 +11.8% 2,584 +4.6%
  • $425,000 median selling price that is +11.8% vs. a year ago and -34% below June 2007’s peak of $645,000.
  • The most recent median is 15% above the cyclical low hit in January 2009 at $370,000 — a current bottom that was -43% below the peak.
  • Prices fell on a year-over-year basis from Sept. 2007 through August. (Worst at -31.5% in August 2008.)
  • Single-family homes resell for 31% less than their peak pricing (June ‘07) while condos sell 38% below their peak in March 2006. Builder prices for new homes are 38% below their February ‘05 top.
  • Single-family homes were 74% more expensive than condos in this period vs. 76% a year ago. From 1990-2008, the average house/condo gap was 57%.
  • In this most recent period, O.C. shoppers bought 2,584 residences — that is +4.6% vs. year-ago buying activity. (From 1997-2006, monthly sales averaged 4,304 per month.)
  • Builder’s new homes sales were 4% of all residences sold in the period vs. 4% a year ago. From 1990-2008, builders did 15% of the selling.

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

http://lansner.freedomblogging.com/

Posted via web from The Newport Beach Lifestyle

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