The median price of a home sold in Orange County hit $616,000 in November, up 14% from a year ago. November’s median is $10,000 more than October and just $1,000 below the record high for the county, set in August.
But the pace of home sales continues to ease.
In November, 3,503 houses and condominiums were sold, down 1.6% from a year ago, according to La Jolla-based market tracker DataQuick Information Systems, a unit of Canada’s MacDonald Dettwiler and Associates.
There were 3,614 homes sold in October, which was off 3% from a year earlier.
In September 4,072 homes sold.
OC remains the priciest county in the region, but the gap between it and Ventura County appears to be shrinking. The median Ventura County price was $612,000 for November, a 21% increase from last year. There was a $10,000 gap between the two counties in October.
San Bernardino prices showed the percentage spike in November, up 23% to a median $350,000 price. San Diego saw the smallest increase, 6.4%, to $518,000.
Riverside showed the biggest gains in units sold, as the 5,904 homes sold in November was a 19% increase from similar 2004 levels.
So far this year, 326,746 Southland homes have been sold, which is virtually unchanged from the first eleven months of 2004, DataQuick said.
