REAL ESTATE INDUSTRY NEWS
Untitled Page
Orange County's median home price spikes in January
Number jumped 14.9 percent to $425,000, says DataQuick.
By Kristen SchottPublished: February 16, 2010 12:24 PM
Photo courtesy of FotoliaOrange County's median home price jumped 14.9 percent in January, compared to the same time last year, according to stats just released by San Diego-based MDA DataQuick.
The price for a home or condominium in the region rose to $425,000 in the period, up from $370,000 in January 2009. But the number declined from December's $435,000 median.
For the entire Southern California region, which includes the Orange, L.A., Riverside, San Bernardino, San Diego and Ventura counties, the median home price rose 8.6 percent to $271,500 – but that number also fell from December. The shift is most likely due to the number of foreclosure and lower-priced inland area sales, according to DataQuick.
Orange County reported the largest uptick in the median – the second highest was San Diego, which saw its price rise 8.9 percent to $305,000 in the period. Riverside saw no change, and San Bernardino's median fell 7.4 percent to $150,000.
Sales in Orange County rose 3.4 percent in January, compared to the same time last year. A total of 1,867 properties were purchased in the period, up from 1,806 in January 2009. The number is down significantly from December, which had a total of 2,885.
For the entire Southern California region, 15,361 new and resale homes closed escrow in January. The number rose 0.9 percent compared to January 2009, though it fell 31.2 percent from 22,328 in December.
But DataQuick says that's is normal for the period:
"On average, sales have fallen 28.4 percent between those two months since 1988, when DataQuick’s statistics begin."
Related headlines
Irvine-based Bixby Land Co. buys $9.2 million property
Irvine Co. Office Properties signs deals for 115,000 square feet
December home foreclosures double
|
||||
|
Photo courtesy of Fotolia The price for a home or condominium in the region rose to $425,000 in the period, up from $370,000 in January 2009. But the number declined from December's $435,000 median. For the entire Southern California region, which includes the Orange, L.A., Riverside, San Bernardino, San Diego and Ventura counties, the median home price rose 8.6 percent to $271,500 – but that number also fell from December. The shift is most likely due to the number of foreclosure and lower-priced inland area sales, according to DataQuick. Orange County reported the largest uptick in the median – the second highest was San Diego, which saw its price rise 8.9 percent to $305,000 in the period. Riverside saw no change, and San Bernardino's median fell 7.4 percent to $150,000. Sales in Orange County rose 3.4 percent in January, compared to the same time last year. A total of 1,867 properties were purchased in the period, up from 1,806 in January 2009. The number is down significantly from December, which had a total of 2,885. For the entire Southern California region, 15,361 new and resale homes closed escrow in January. The number rose 0.9 percent compared to January 2009, though it fell 31.2 percent from 22,328 in December. But DataQuick says that's is normal for the period: "On average, sales have fallen 28.4 percent between those two months since 1988, when DataQuick’s statistics begin." Related headlines Irvine-based Bixby Land Co. buys $9.2 million property Irvine Co. Office Properties signs deals for 115,000 square feet December home foreclosures double |
||||
