REAL ESTATE NEWS
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O.C.'s median home price, continued ...
“We’ve seen the re-selling of foreclosed homes fall off its peak in newer lower-cost inland areas, while at the same time sales have started to pick up in some of the more established expensive areas," says Walsh. "That simple shift in what’s selling, and what’s not selling, puts upward pressure on the median."
He says a "comeback" in the jumbo loan market would also provide a much-needed price bump in higher-priced areas.
O.C. had the highest median out of the six areas surveyed. Ventura's price of $360,000 was next, followed by L.A.'s $339,000.
O.C. also saw an 11.8 percent gain in sales in December, compared to the same time in 2008. The number of homes sold jumped to 2,885, up from 2,580. Statewide, sales rose 12.1 percent, with a total of 22,328 properties sold in the month.
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O.C.'s median home price, continued ...
“We’ve seen the re-selling of foreclosed homes fall off its peak in newer lower-cost inland areas, while at the same time sales have started to pick up in some of the more established expensive areas," says Walsh. "That simple shift in what’s selling, and what’s not selling, puts upward pressure on the median."He says a "comeback" in the jumbo loan market would also provide a much-needed price bump in higher-priced areas.
O.C. had the highest median out of the six areas surveyed. Ventura's price of $360,000 was next, followed by L.A.'s $339,000.
O.C. also saw an 11.8 percent gain in sales in December, compared to the same time in 2008. The number of homes sold jumped to 2,885, up from 2,580. Statewide, sales rose 12.1 percent, with a total of 22,328 properties sold in the month.
<< PREVIOUS PAGE
Related headlines
Newport Beach's Conexant sells land for $26 million
Santa Ana's First American CoreLogic: foreclosures up
O.C. fairgrounds: Highest bid comes in at $65.5 million
TechSpace acquires new facility in Westwood