Prices of an Orange County detached home dropped noticeably in October from September, and now are off 7% from the record highs of six months ago, the California Association of Realtors said Wednesday.
The median price for a detached home sold here in October was $681,340, down 3.6% from September, according to the association.
The record median high for the county was $729,370, set in April. October’s median sales price was down 2.9% from a year ago.
The pace of OC home sales last month showed an improvement from September, up 2.2%. But they were down 21% from a year ago. It’s the first month in five that year-over-year sales didn’t drop more than 30%.
The realtor association excludes condominiums from its figures.
Including condos, the median price of a home sold here was $625,000 in October, down 3.4% from the county’s record high of $646,000, set in June, according to La Jolla-based market tracker DataQuick Information Systems, a unit of Canada’s MacDonald Dettwiler and Associates.
The statewide October median price of a detached California home was $548,680, a 1.5% decline from September, but an increase of 2% from a year ago, the California Association of Realtors said.
Statewide sales were down 28.7% in October from a year ago.
The median number of days it took to sell a single-family home in California was 57 days in October, an increase of three days from a month ago, and up 23 days from a year ago.
Among OC cities, Newport Beach was the priciest in the state in October, at an average of $1.3 million per sale. San Clemente was eighth priciest, at $910,000.
