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O.C.'s median home price gets upswing, continued ...
The pop is attributable to a number of factors, mainly the federal tax credit for first-time buyers; low mortgage rates; investor activity; and the draw of distressed property.
“This market is still really lopsided," says Dataquick President John Walsh. "Foreclosures and short sales are huge factors. There’s still not a lot of discretionary buying and selling outside the more affordable markets. Anybody who can sit tight is doing just that."
For the entire Southern California region, which includes the Orange, L.A., Riverside, San Bernardino, Ventura and San Diego counties, the median home price was $285,000 in November. The number was unchanged from the same time last year, though it is up from October. Sales also jumped nearly 15 percent in November, compared to 2008, though they dropped from October.
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O.C.'s median home price gets upswing, continued ...
The pop is attributable to a number of factors, mainly the federal tax credit for first-time buyers; low mortgage rates; investor activity; and the draw of distressed property.“This market is still really lopsided," says Dataquick President John Walsh. "Foreclosures and short sales are huge factors. There’s still not a lot of discretionary buying and selling outside the more affordable markets. Anybody who can sit tight is doing just that."
For the entire Southern California region, which includes the Orange, L.A., Riverside, San Bernardino, Ventura and San Diego counties, the median home price was $285,000 in November. The number was unchanged from the same time last year, though it is up from October. Sales also jumped nearly 15 percent in November, compared to 2008, though they dropped from October.
<< PREVIOUS PAGE
Related headlines
REDC acquires Commerce Title from Pulte Homes
CT/KDF Community Development Partners closes $36 million
Newport Beach's Stoneridge Capital buys retail center for $20 million
Voit Real Estate tops local industrial deals
