The median price of a house in Orange County was $706,820 in July, up 9% from a year earlier, the California Association of Realtors said Tuesday.
July’s median was up $4,420 from June. The price excludes condominiums.
Home price appreciation here, which once led the state, now lags it. California’s median rose 17% to $540,900 in July, versus a year ago.
Still, OC home sales were up 36.5% in July, from a year earlier. The association did not provide the number of homes sold.
Sales in the county were down 10.9% from June, typically one of the strongest sales months, according to the association.
Statewide sales are “moderating” compared with previous months this year, according to Leslie Appleton-Young, chief economist with the association. “This is in line with our expectation that sales in 2005 will be 1.4% ahead of last year’s record pace.”
