Orange County home prices inched up in November from October, but still remain well below prices of year earlier, while the pace of sales in the county remained slow.
The median price of an Orange County home was $582,750 in November, a 1.6% increase from a month ago, according to La Jolla-based DataQuick Information Systems, a unit of Canada’s MacDonald Dettwiler and Associates.
Median prices are down 6.5% from a year ago, and are off about 10% from Orange County’s record high, set in June.
Sales in the county were off 45% from a year earlier, with 1,567 home sales in November. Sales were off about 8% from October’s levels.
Across Southern California, it was the slowest November for home sales in more than 20 years, according to DataQuick. Sales did show a 2% improvement from October, thanks to bargain shopping and an uptick in new-home sales.
The median price of a Southern California home was $435,000 in November, a 10.3% decrease from a year ago. That’s the biggest year-over-year decline reported by DataQuick.
