For the 22 business days ending March 15 – DataQuick’s latest homebuying report — Orange County saw …
| Slice | Price | Yr. ago | Sales | Yr. 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!
