RE/MAX Fine Homes Real Estate News for the Orange County Area

Barbara Stuart, Canaday Group Agent

Local real estate deals with the traditional post-spring slowdown as well as missing incentives from now-expired tax breaks. So, for the 22 business days ending July 8 – Data-Quick’s freshest stats — Orange County home-buying patterns showed:

· Only 42 of 83 O.C. ZIPs had year-over-year sales gains in the period.

· 5 of 83 O.C. ZIPs has sales gains of 100% or more in the period.

· Overall, countywide sales were +9% vs. a year ago.

· 52 of O.C.’s 83 ZIP codes had gains in their respective median selling price. Overall, prices were +6.5% vs. a year ago.

· Taking sales volume in consideration, home pricing is up in ZIPs representing 61% of the Orange County market.

· 7 of 83 O.C. ZIPs had median sales prices above $1 million in the period vs. 11 million-dollar ZIPs when the county
median price peaked in June 2007.

· Since that pricing pinnacle, there’s been a -31% drop in the countywide median price!