Home prices continue to rise in Orange County, but not as quickly.
The median price of a home sold in the county reached a new high of $576,000 in April, La Jolla-based market-tracker DataQuick Information Systems said Monday.
That’s a 10% gain from a year ago,notable but not as dramatic as the 20% plus annual jumps of the market’s peak.
Sales were on the downside of flat last month, with 4,547 homes and condominiums changing hands.
Across the Southland sales dipped 4.5% to 31,431 homes, while the median price rose 15% to $445,000.
“There are two factors that can lead to a decline in sales,” said Marshall Prentice, DataQuick president, in a statement. “The first is that potential buyers cannot or will not buy. The second is that there aren’t enough homes for sale. Right now we’re probably looking at a combination of the two.”
He said more homes should be put on the market in coming months, as some owners try to sell at the peak.
