There is a drop of $800 from the month of July in the median price for an existing Orange County home. It has been sold in August for $499,440. According to the California Association of Realtors, there is a decline of 2.3% from the previous year.

The existing price of OC homes has dropped below the $500,000 mark noticed in August of this year. The Orange County homes had seen a rise in price of more than $60,000 since April and is glad to see the reverse of increasing prices from the month of July. It has been stated that there is drop in sales by 9% but there is an increase of 6% from the previous year. The association has excluded the condominiums from these figures.

According to San-Diego based MDA Data Quick which is a unit of Canada’s Mac Donald Dettwiler and Associates, the price of OC homes which is inclusive of condominiums was $427,750 in August this year. There is an increase of $8,000 but a drop down of 3% from the previous year.

According to the Realtor association, there is an increase of 2.6% from July but a decline of 17% from the previous year. The price of OC homes in California was $292,960 in August. It is considered to be the sixth straight month which has seen an increase in the median price of the existing OC homes. The sales increased 9% from the previous year but were down 5% from July.

This entry was posted on Tuesday, September 29th, 2009 at 12:30 pm and is filed under Venture Capital News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.