The price of an existing Orange County home dropped by $12,000 in April from a month earlier, the California Association of Realtors said on Thursday.
The median price for an existing stand-alone OC home sold in April was $432,110, a 2.8% decrease from March and a 27% decrease from a year earlier.
While OC prices declined month-over-month, pricing in all of California inched up 1.4% in April, to $256,700. That? still a 36.5% decline from a year earlier.
Economists for the Realtor association said it appears that the median price for a home in California is now at or near a bottom.
The Realtor association excludes condominiums from its figures.
Including condos, the median price of an OC home was $380,000 in April, a 2.6% decrease from March and a 41% decline from the area? all-time high, set in June 2007, according to La Jolla-based DataQuick Information Systems Inc., a unit of Canada? MacDonald Dettwiler and Associates Ltd.
Sales in OC were down 1.6% in April from March, but up 13% from a year earlier, according to the Realtor association.
Statewide sales in April increased 49% from a year earlier, driven by distressed sales of lower-priced homes.
