The median price of an existing Orange County home in August rose to $440,000, a jump of more than $12,000 or about 3% from a year earlier, according to a report from San Diego-based MDA DataQuick, a unit of Canada’s MacDonald, Dettwiler and Associates.
The number of sales saw a 9% slide in August from a year earlier as the mix of nicer homes sold upped the median price.
The evaporation of the federal tax credit prompted a two-month slump from a June high of 3,423 homes sold at a median price here of $445,000.
Prices rose in July to $450,000 from June as some home sellers felt the hangover of higher prices, but corrected to $440,000 in August on relatively flat sales.
Sales last month were 2,538, down from 2,790 a year earlier, but up slightly from the 2,527 sales seen in July.
Overall, Southern California home prices and sales showed an even bigger disparity, with prices rising 4.7% to $288,000 in August from a year earlier, but with sales falling almost 14% in the same period.
Southland sales totaled 18,541 in August, down from 21,502 a year earlier and 18,946 in July.
