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REAL ESTATE
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O.C.'s median home price rises in September

It's the first annual gain since August 2007, says DataQuick.

By Kristen SchottPublished: October 13, 2009 11:14 AM

Photo courtesy of Fotolia
Orange County's overall median home price rose 0.9 percent in September compared to the same time last year, according to stats just released from MDA DataQuick. It's the first annual gain for any month since August 2007.

The number hit $429,000 during September, up from $425,000 in 2008. It is also up slightly from August, which had a median price of $427,750.

O.C. saw a 4.2 percent year-over-year increase in its resale house median in September – this was also the first for any month since August 2007.

"Recent month-to-month and year-over-year gains in the median sale price stem largely from a substantial market shift in recent months: There have been fewer sales of foreclosed homes in lower-cost neighborhoods, and more sales in higher-cost areas," according to the report.

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