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Home Prices Slide $2,000 in April

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The median price of an existing Orange County home declined by $2,000 in April from March, with demand still strong for lower-priced distressed properties both here and across the state, the California Association of Realtors said on Monday.

The median price for an existing stand-alone OC home sold in April was $491,120, a less than 1% decline from March, but a nearly 14% increase from a year ago.

The number of sales here rose 15% from a year earlier but edged down 1.4% from March, the Realtor association said.

The association excludes condominiums from its figures.

Including condos, the median price of a home here in April was $430,000, a less than 1% decrease from March, but a 13% increase from a year earlier, according to San Diego-based MDA DataQuick, a unit of Canada’s MacDonald, Dettwiler and Associates.

The median price of an existing home in California was $306,230 in April, about a 1.5% increase from March and a 21% increase from a year ago, according to the Realtor association.

Statewide sales in April decreased by 8.1% from a year earlier and were down 6.4% from March. The state tax credit that took effect in the beginning of May created an incentive for buyers to postpone closing on sales in April, according to the association.

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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