The median sales price for a stand-alone Orange County home was $695,000 in November, a 1% dip from October but up 10% from a year earlier, according to the California Association of Realtors.
Sales of detached homes in OC fell by 16% in November from October. They were off 13.5% from a year earlier. The association excludes condominiums from its numbers.
The figures paint a starker picture of decline in the housing market than recent numbers from La Jolla-based market tracker DataQuick Information Systems, a unit of Canada’s MacDonald Dettwiler and Associates.
Earlier this month, DataQuick, which includes condos in its numbers, said the median price of a home sold here hit $616,000 in November, up 14% from a year ago and up by $10,000 from October.
November’s median was just $1,000 below the record high for the county, set in August, according to DataQuick.
The difference between the two reports suggest condos are playing a bigger role in home sales as prices for detached homes grow out of reach for many.
Regionally, the association said Riverside and San Bernardino also saw a drop in home prices, which declined 1.6% in November from October.
The Inland Empire’s median price was $388,650 last month, up 21% from a year earlier.
San Diego home prices rose by 2.5% from October to $616,840. But sales there declined by 8.6% from October.
Statewide, the November median price of a California home was $548,400, up 1.8% from October and up 16% from a year ago.
Statewide home sales decreased 7% from October and fell 11% from a year ago.
