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Record Median Home Price; Sales Off

The median price of a home sold in Orange County jumped to a record $621,000 in December, up 13% from a year earlier.

The previous record, $616,000, was set in November.

The volume of homes sold in the county continued to slow.

The 3,826 houses sold in December was off 9% from a year earlier, according to La Jolla-based market tracker DataQuick Information Systems, a unit of Canada’s MacDonald Dettwiler and Associates.

The trend is part of a regional slowing.

Nearly 29,000 houses sold in Southern California last month, down 5% from a year earlier.

Last month’s Southern California sales count was the lowest for any December since 2001, DataQuick said. Only Riverside County, with a 17% increase yearly increase, saw a double-digit gain in December.

The median price paid for a Southern California home was $479,000 last month, the same as November. That figure was up 13% from December 2004.

Among big regional gainers, San Bernardino’s median was $361,000, up 29% from a year ago. Los Angeles saw a 17% gain to $490,000.

While OC median prices hit a monthly record in December, Ventura County leapt ahead of it as the most expensive in the region by median price at $630,000.

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Mark Mueller
Mark Mueller
Mark is the Editor-in-Chief of the Orange County Business Journal, one of the premier regional business newspapers in the country. He’s the fifth person to hold the editor’s position in the paper’s long history. He oversees a staff of about 15 people. The OCBJ is considered a must-read for area business executives. The print edition of the paper is the primary source of local news for most of the Business Journal’s subscribers, which includes most of OC’s major corporate and community players. Mark’s been with the paper since 2005, and long served as the real estate reporter for the paper, breaking hundreds of commercial and residential real estate stories. He took on the editor’s position in 2018.
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