The median price of an existing Orange County home slid under the $500,000 mark in October, after seeing a nearly $22,500 drop in price from the prior month.
The median price for an existing stand-alone OC home sold in October was $488,020, the California Association of Realtors said Tuesday.
That’s a 4.4% decrease in pricing from September, and a 0.5% drop from the median price homes here were selling at a year earlier.
The county’s median sales price now is up about 15% from the recent bottom of the market, seen in January 2009, according to the association’s figures.
Prices here are still off nearly 35% from the peak of the market, when the median sales price for an OC home topped $747,000 in April 2007.
The number of OC home sales in October was down 6.4% from a month earlier, the Realtor association said. Sales were down 16.1% from a year earlier.
The median sales price of an existing home in California was $304,220 in October, a 1.8% decrease from September but a 2.3% increase from a year ago, according to the association.
Sales in California were down about 3.5% from September’s levels, and were off nearly 20% from a year earlier.
The association excludes condominiums from its figures.
Including condos, the median price of an OC home sold in October was $436,500, a 0.3% increase from a year ago, according to a report from San Diego-based MDA DataQuick, a unit of Canada’s MacDonald, Dettwiler and Associates.
