The price of an existing Orange County home remained unchanged from September to October, while sale volumes continued to decline, the California Association of Realtors said on Wednesday.
The median price for an existing standalone OC home sold in October was $673,770, the same price as a month ago. Prices in the county now are down 1.1% from a year earlier. September saw an even larger drop, with the average price down 4.6% from a year earlier.
Sales were off 42% in October from a year earlier and were down 11.3% from September. Borrowers in all price ranges continue to have difficulty securing financing, according to the California Association of Realtors.
The association’s figures show less of a year-over-year price decline than those reported earlier this month by La Jolla-based DataQuick Information Systems, which includes condominiums in its figures.
DataQuick reported the median price of an OC home was $573,750 in October. That’s up 0.7% from September but down 8.2% from a year earlier.
The statewide October median price of an existing California home was $497,110, a 9.9% decrease from a year ago, and a 6.4% decrease from a month ago, the association said.
Statewide sales were down 40% in October from a year ago.
