The median price of an existing Orange County home increased by more than $14,000 in May from April, the California Association of Realtors said Tuesday.
The median price for an existing stand-alone OC home sold in May was $505,750, a 3% increase from a month ago and a 6.7% jump in median pricing from a year ago.
The area’s median sales price now is up nearly 20% from the recent bottom of the market, seen in January 2009.
Prices here are still off some 32% from the peak of the market, when the median sales price for an OC home topped $747,000 in April 2007.
The number of sales here rose about 16% from a month earlier, and increased 18.5% from a year ago, the Realtor association said.
The association excludes condominiums from its figures.
Including condos, the median price of an OC home sold in May was $450,000, a $40,000 or 9.8% increase from a year ago, and a $20,000 increase from April levels, according to San Diego-based MDA DataQuick, a unit of Canada’s MacDonald, Dettwiler and Associates.
The median sales price of an existing home in California was $324,430 in May, about a 6% increase from April and a 23% increase from a year ago, according to the Realtor association.
Statewide median prices are up about 32% from the bottom of the market, but still stand 45% below the peak mid-2007 median price of $594,530.
