Orange County CA homes sales and median selling prices were up last month during February 2013.
Home Sold Prices Median at Orange County CA- during February 2013
Resale Homes – $529,500 – up 16.4 percent as compared with January 2013
Resale condominiums – $325,000 – up 30 percent from last month
New Homes – $676,000 – up 21 percent from last month
All homes – $477,000 – up 22 percent from last month – also up as compared with one year ago
Homes sold at Orange County CA – during February 2013
Resale Houses – 1,424 homes sold – up 2.4 percent from January
Resale condominiums – 679 homes sold – up 6.8 percent from January
New Homes – 149 homes sold – up 75 percent from January
All homes – 2,252 homes sold – up 6.7 percent from January – also up from one year ago
It's not surprising that the Orange County CA home selling market continues on a rebound and has lots of qualified and motivated buyers and not enough sellers.
However, the small number of homes listed for still as compared with last year limits options for buyers. This results in big-time buyer competition for homes and multiple offers, which drives prices and sellers expectations upward.
Even though this Orange County housing market is very favorable for sellers, I expect that the selling price upward movement should stablize and level off as home selling supply goes up and gets closer to buyer demand.
Source of information is DataQuick News and OCRegister.com.
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Harrison K. Long, Realtor and broker associate – CADRE 01410855 – also an attorney member of the California State Bar Association #69137 – 949-701-2515 for direct telephone or text contact.