Orange County’s median home price inched up $2,000 in July from June, as sales of more expensive coastal homes here and elsewhere in the Southland picked up and lower-priced foreclosures waned.
The median price of an Orange County home was $420,000 in July, according to San Diego-based MDA DataQuick, a unit of Canada’s MacDonald Dettwiler and Associates.
July’s median sale price is the highest OC’s seen in nine months.
Median prices here still are down about 9% from a year earlier and are off about 35% from their all-time high in June 2007.
July sales totals in OC rose about 6% from June, and were up nearly 12% from a year earlier.
The median price of a Southern California home was $268,000 in July, a $3,000 increase from June but a 23% decline from a year ago, MDA DataQuick reported.
It was the third straight month-to-month gain for median home prices in the Southland.
Sales of coastal homes costing more than $500,000, including those in Newport Beach and Huntington Beach, helped boost the median price, along with a dwindling number of foreclosures available for sale as of late, DataQuick said.
Foreclosure sales,where a foreclosure had occurred at some point in the prior year,made up about 43% of all Southland sales last month, down from a high of 57% in February.
Southland sales totals in July were up 19% from a year ago.
