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.