The median price of an existing Orange County home sold in September rose to $445,000, an increase of more than $16,000 or 3.7% from a year earlier.
Prices inched up $5,000 from August levels, according to a report Tuesday from San Diego-based MDA DataQuick, a unit of Canada’s MacDonald, Dettwiler and Associates.
OC median prices have been hovering at $440,000 to $450,000 for the past five months.
The number of local sales took a nearly 11% slide in September from a year earlier, but the 2,524 sales reported in OC during that period were flat from a month earlier.
About 4% of local homes sales in September were “flips” or homes that have traded hands twice in the past six months.
That’s the highest rate of flipping of any Southland county in the past month, according to MDA DataQuick’s figures.
The median price for a Southern California home sold in September was $295,500, a $7,500 or 2.6% increase from a month ago and a 7.5% increase from a year ago.
Homes prices in the Southland have regained about one-fifth of its peak-to-trough loss, according to MDA DataQuick.
Home sales in the Southland were off 16% from a year ago, and September’s 18,091 sales was the third consecutive month of declining volumes.
Sales were about 26% lower than the typical September, based on the past 22 years of data.
