The median price paid for an Orange County home was $410,000 in February, a $5,000 or 1.2% decrease from the prior month, according to San Diego-based MDA DataQuick.
The median price seen here at the end of February is about 2% below year-ago levels.
Prices here remain about 36% below the $645,000 median price seen at the peak of the market, in mid-2007, according to a Tuesday report from MDA DataQuick, a unit of Canada’s MacDonald, Dettwiler and Associates.
Median prices in OC are up about 12% from the bottom of the latest cycle, seen in early 2009.
There were 1,903 sales reported in OC last month. That’s down about 4% from year-ago levels, and is roughly the same as January’s sales volumes.
For all Southern California, February’s median price was $275,000, up about 2% from a month ago and unchanged from a year ago.
OC counts the most expensive median home price in the region. Ventura County was the second-priciest Southland county in February, with a $345,000 median price.
Sales volumes for Southern California were off 6% from year-ago levels, and were 0.6% below January’s levels.
Foreclosure resales—homes foreclosed on in the past year—accounted for 37% of the region’s resale market last month, down from 42% a year ago.
Short sales made up about 20% of the region’s resales last month.
Cash buyers made up 31.7% of the sales market last month, the highest percentage seen for any month since MDA DataQuick began keeping records in 1988. Those cash buyers paid a median price of $200,000 for their homes.
