Local real estate deals with the traditional post-spring slowdown as well as missing incentives from now-expired tax breaks. So, for the 22 business days ending July 8 – Data-Quick’s freshest stats — Orange County home-buying patterns showed:
· Only 42 of 83 O.C. ZIPs had year-over-year sales gains in the period.
· 5 of 83 O.C. ZIPs has sales gains of 100% or more in the period.
· Overall, countywide sales were +9% vs. a year ago.
· 52 of O.C.’s 83 ZIP codes had gains in their respective median selling price. Overall, prices were +6.5% vs. a year ago.
· Taking sales volume in consideration, home pricing is up in ZIPs representing 61% of the Orange County market.
· 7 of 83 O.C. ZIPs had median sales prices above $1 million in the period vs. 11 million-dollar ZIPs when the county median price peaked in June 2007.
· Since that pricing pinnacle, there’s been a -31% drop in the countywide median price!
NOTE! 26 local ZIPs had both sales gains and price gains in the period. (Highlighted in green below!) These double-gainers had combined sales volume equal to 41% of the Orange County market. Below is a look at the 83 ZIPs and how they fared in terms of median selling price and total sales for this period.
For more information please visit www.FineHomes4Sale.com
Barbara Stuart, Canaday Group Agent