Early November Homes Sales Show Price Gain…
November 2010
For the 22 business days ending Nov. 5 – Data-Quick’s latest home buying report in Orange County saw …
For the 22 business days ending Nov. 5 | ||||
Slice | Price | Yr. ago | Sales | Yr. ago |
Houses | $503,000 | +0.9% | 1,604 | -15.4% |
Condos | $283,000 | -5.7% | 721 | -15.6% |
New | $579,500 | +6.3% | 201 | +21.8% |
All O.C. | $440,000 | +2.0% | 2,526 | -13.4% |
A median selling price of $440,000, up 2% from a year ago.
- O.C. shoppers bought 2,526 residences — 13.4% fewer than a year-ago.
- The most recent median is 19% above the cyclical low $370,000 hit in January 2009. The median has recouped 25% of the $275,000 price drop from the peak.
- But that’s still 32% below June 2007’s peak of $645,000.
- The median selling price of a single-family homes is 31% less than its June 2007 peak, while condos sell 40% below their March 2006 peak. Builder prices for new homes are 33% below their February ‘05 top.
- Single-family homes were 78% more expensive than condos in this period vs. 66% a year ago. From 1990-2009, the average house/condo gap was 58%.
- Sales in this latest period were 30% below the monthly average of 3,597 for the past 20 years.
- Builder’s new homes sales were 8% of all residences sold in the period, vs. 6% a year ago. From 1990-2009, builders did 14% of the selling.