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Home Prices Fall, End 2010 at $410,000

January 20th, 2011 7:27 AM by Lehel S.

Home Prices Fall, End 2010 at $410,000

The median price paid for an Orange County home was $410,000 at the end of 2010, a 5.7% decline from a year earlier, according to San Diego-based MDA DataQuick.

Median prices seen here at the end of December also fell by $25,000—or about 5.7%—from November’s levels, according to a Tuesday report from DataQuick, a unit of Canada’s MacDonald, Dettwiler and Associates.

The median selling price here for new and resale houses and condominiums now is at its lowest price since mid-2009, according to the research firm’s data.

The number of local sales took a more than 5% slide in December from a year earlier. The 2,739 sales reported in OC last month were up more than 20% from November.

A November-to-December sales increase is normal for the season, with the gain averaging 12.9% since 1988, according to DataQuick.

For all Southern California, December’s median price of $290,000 was up $1,000 from a year ago. Sales for the region were off 12.5% from a year earlier and up 20.5% from November.

Foreclosure resales—homes foreclosed on in the past year—accounted for 34.3% of the region’s resale market last month, down from 39.6% a year ago.

Posted in:General
Posted by Lehel S. on January 20th, 2011 7:27 AM



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