The price of an existing Orange County home rebounded by 7% in June from May, but remained far below its year-ago median price, the California Association of Realtors said on Friday.
The median price for an existing stand-alone OC home sold in June was $560,900, a $37,000 increase from a month ago. Prices had dropped $54,000 between April and May.
OC’s median home sales price is now down 22.5% from a year earlier.
OC’s home values held up better than the rest of the state in June. The median price of a California home was $368,250 in June, down 4.3% from May and 37.7% from a year ago.
The Realtor association excludes condominiums from its figures.
Including condos, the median price of an OC home was $495,000 in June, according to La Jolla-based DataQuick Information Systems, a unit of Canada’s MacDonald Dettwiler and Associates. That’s a decrease of $150,000, or 23%, from a year earlier.
Sales volumes in Orange County were down 4.1% in June from May, but up 18.1% from a year ago, according to the Realtor association.
Statewide sales in June were down less than 1% from a month ago, but up 17.5% from a year ago, driven by distressed sales of homes costing less than $500,000, the association said.