Median home price in Orange County rose $30,000 in the month of May, largely because of increase in sales of more expensive homes and fewer foreclosure sales. The month’s median sale price is the highest in last seven months in the county.

According to San Diego-based MDA DataQuick, a unit of Canada’s MacDonald Dettwiler and Associates, in May, the median price of an Orange County home was $410,000, a 7.8 percent increase from April.
Interestingly, despite the jump, the median prices are still down about 16 percent from a year earlier and are off about 35 percent from their all-time high in June 2007. May sales totals in Orange County were up about 5 percent from April and were up nearly 18 percent from a year ago.

The median price of a Southern California home was $249,000 in May, a $2,000 increase from April but it was a 33 percent decline from a year ago, according to  DataQuick.

The boost in median prices was contributed by the sales of homes costing more than $500,000, along with lesser number of foreclosures available for sale.

This entry was posted on Thursday, June 18th, 2009 at 10:58 am 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.