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O.C. homebuying up 18 percent in early February

February 23, 2013

Our first peek at February homebuying shows Orange County’s shoppers staying active. DataQuick’s Orange County homebuying report for the 22 business days ending February 7 shows:

• Median selling price for all residences of $460,000 — that is up 17.9 percent vs. a year ago.

Total Orange County sales of 2,413 residences closed in the latest period — that is up 17.5 percent vs. a year ago.

• Resales of single family homes were up 17.0 percent vs. last year; condo sales rose 9.1 percent vs. year ago. Builders’ new homes sales were 80.4 percent higher in the same period.

• $460,000 median selling price is 29 percent below the June 2007 peak of $645,000.

• The most recent median is 24 percent above the cyclical low hit in January 2009 at $370,000 — so the median has recouped 33 percent of the $275,000 price drop from the peak.

• Compared to cyclical low, single-family house median is 24 percent higher ($418,250 in January 2009); condo median is 23 percent higher ($252,000 in March 2009.) Builder prices for new homes are 61 percent above June 2009’s $424,000 bottom.

•Builder’s new homes sales were 7 percent of all residences sold in the period vs. 4 percent a year ago.

On a community level:

• 73 of 83 local ZIP codes with gains in their respective median selling price. Taking sales volume in consideration, home-sale pricing is up in ZIPs representing 89 percent of the Orange County market.

• Eight of 83 ZIPs with median sales prices above $1 million in the period vs. 11 million-dollar ZIPs when the county median price peaked in June 2007. Million-dollar ZIPs had 108 home sales in this period — down 13 percent vs. a year ago.

• There were two ZIPs with medians under $250,000 vs. five a year ago. ZIPs with medians under a quarter million had 2 percent of all sales in the most recent period.

• 54 of 83 ZIPs had year-over-year sales gains in the period — or 65 percent of the market; five ZIPs had sales gains of 100 percent or more in the period.

• 48 local ZIPs had both sales gains and price gains in the period. These double-gainers had combined sales volume equal to 66 percent of the Orange County market.

Originally posted on

O.C. homebuying up 18 percent in early Feb. | percent, sales, year – Business – The Orange County Register.

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