The price of an existing Orange County home fell another 4.9% in August from July, although sales were up more than 30% from a year earlier, the California Association of Realtors said on Thursday.
The median price for an existing stand-alone OC home sold in August was $511,270, a $26,300 decrease from a month ago.
OC’s median home sales price is now down 29.1% from a year earlier.
Year-over-year pricing has held up better in OC than in the rest of the state. The median price of a California home was $350,140 in August, down just 0.2% from July but 40.5% below prices seen a year earlier.
The Realtor association excludes condominiums from its figures.
Including condos, the median price of an OC home was $440,000 in August, according to La Jolla-based DataQuick Information Systems, a unit of Canada’s MacDonald Dettwiler and Associates. That’s a decrease of $202,250, or 32%, from a year earlier.
Sales volumes in Orange County were down 7.8% in August from July, but up 31.4% from a year earlier, according to the Realtor association.
Statewide sales in August were up 1.8% from a month ago and increased 56.7% from a year earlier, driven by distressed sales of lower-priced homes, the association said.
