15 January 2010, 1:56 pm
O.C. home prices up $69,000 vs. bottom
For the 22 business days ending Dec. 23 – DataQuick’s latest homebuying report — Orange County saw …
$439,000 median selling price that is +9.7% vs. a year ago but -32% below June 2007’s peak of $645,000.
The most recent median is 19% ($69,000) above the cyclical low hit in January 2009 at $370,000 — a current bottom that was -43% below the peak.
Prices fell on a year-over-year basis from Sept. 2007 through August. (Worst at -31.5% in August 2008.)
Single-family homes resell for 32% less than their peak pricing (June ‘07) while condos sell 36% below their peak in March 2006. Builder prices for new homes are 39% below their February ‘05 top.
In this most recent period, O.C. shoppers bought 3,041 residences — that is +10.4% vs. year-ago buying activity. (From 1997-2006, monthly sales averaged 4,304 per month.)
