Our Real Estate Blog

Home Prices Fall $5,000 in June

Orange County’s median home price slipped $5,000 in June from May despite seeing an uptick in sales, thanks in part to buyers taking advantage of a federal tax break that was set to expire this month.

The median price for an OC home was $445,000 in June, about a 1% dip from a month ago, according to San Diego-based MDA DataQuick, a unit of Canada’s MacDonald Dettwiler and Associates.

The median price here now stands about $27,000 or 6.5% higher from a year earlier, but still is about $200,000 or 31% below OC’s highest median price, set in the summer of 2007.

Sales in OC were up 15.7% from June 2009 with 3,423 homes sold last month. There were 166 more OC sales in June than in May.

For all of Southern California, the median price for a home was $300,000 last month, down 1.6% from May’s prices but up 13.2% from a year ago.

Southland sales totaled 23,871 in June. That’s up 7.2% from May’s totals, and a 2.6% increase from a year ago.

Prospective buyers had been facing a June 30 deadline to take advantage of an $8,000 federal tax credit, which has since been extended to this fall.

Foreclosure resales accounted for a third of the Southland’s resale market last month. That’s down from a high rate of 56.7%, set in early 2009, according to MDA DataQuick’s figures.


Posted by Lehel Szucs on July 16th, 2010 3:51 PMPost a Comment (0)

Recent Posts:

Archive:

My Favorite Blogs:

Sites That Link to This Blog:

Lehel Szucs DRE License #01336187 - - - - Cindy Szucs DRE License #01465195


All Seasons Real Estate, Inc 964 E. Badillo Street, Suite 240 Covina, CA 91724
Phone: Cell: Fax:

All Seasons - Newsletter | Statistics | FREE REO TOURS | Sign Up for a List of Free REO Property | Foreclosures, REO, Short Sale, etc..... | REO Property Lists - Select Cities | Home Value Estimations | BPO Class | Download Adobe Acrobat | Real Estate Glossary | Home Page | Applying for a Loan | Daily Rate Lock Advisory | Real Estate Blog

Copyright © 2012 All Seasons Real Estate, Inc
Portions Copyright © 2012 a la mode, inc.
Another XSite by a la mode, inc. | Admin LoginTerms of UseSite Map
All rate, payment, and area information are estimates and approximations only.



 
State:
County:
City:
Zip: