The price of an existing Orange County home stands nearly $200,000 below its year-ago price, after slipping another $5,650 in October from September, the California Association of Realtors said on Tuesday.
The median price for an existing stand-alone OC home sold in October was $490,360, a 1.1% decline from September and a 28.6% decrease from a year ago.
Year-over-year pricing continues to hold up better in OC than in the rest of the state. The median price of a California home was $311,060 in October, down about 2% from September and 40% below prices seen a year earlier.
The Realtor association excludes condominiums from its figures.
Including condos, the median price of an OC home was $420,000 in October, a 1% decline from September and a 27% decline from a year ago, according to La Jolla-based DataQuick Information Systems Inc., a unit of Canada’s MacDonald Dettwiler and Associates Ltd.
Sales volumes in Orange County were up 5.3% in October from September, but jumped up 108% from a year earlier, according to the Realtor association.
Statewide sales in August were up 9.5% from a month ago and increased 117% from a year earlier, driven by distressed sales of lower-priced homes, the association said. It was the highest level of sales seen since late 2005.
