Orange County homebuying jumps 6% as Southern California sales hit 7-year high - OCRegister

Orange County house hunters joined a regional buying spree in October.

Orange County home sales totaled 3,061 in the month — up 6% in a year CoreLogic/DQ News reported. The countywide median selling price was $725,000 — up 0.7% over 12 months.

In six Southern California counties, 20,761 homes sold — up 8.2% in a year. The regional median selling price was $535,000 — up 1.9% over 12 months. The last time SoCal buyers were more active in an October was 2012.

Here are five things you should know about key market niches in the Orange County market in October … 

1. Existing single-family houses: 1,881 sold, up 12.1% in a year. Median of $530,000 — a 0.7% rise over 12 months.

2. Existing condos: 820 sales, up 2.5% over 12 months. Median of $682,500 — a 1.9% fall in a year.

3. Newly built: Builders sold 360 new homes, down 12% in a year. Median of $1,083,000 — a 0.5% rise over 12 months.

4. Builder share: 11.8% of sales vs. 14.2% a year earlier.

5. Rank: How pricing in Orange County ranked among Southern California’s six counties: No. 1 overall; No. 1 for single-family resales; No. 2 for condo resales; and No. 1 for new homes.

Elsewhere in Southern California …

Los Angeles County: 6,744 sold, up 5.6% over 12 months. Median of $620,000 — a 4.2% increase.

Riverside County: 3,650 sales, up 11.4%. Median? $395,000 — a 3.9% increase.

San Bernardino County: 2,816 sold, up 8.1%. Median? $350,000 — a 5.2% increase.

San Diego County: 3,485 sales, up 10%. Median? $573,500 — a 2.6% increase.

Ventura County: 1,005 sold, up 17%. Median? $580,000 — a 3% decline.

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December 10, 2019 at 01:31PM
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Orange County homebuying jumps 6% as Southern California sales hit 7-year high - OCRegister
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