The median home price of Orange County properties rose by about $8,000 this August from July as prices of lower-priced foreclosures continued to fall. The San Diego based MDA DataQuick, a unit of Canadian firm MacDonald Dettwiler and Associates quoted the price of a median Orange County home to be $427,750 as in August this year.

Though this price is the highest in 10 months, it is still lower by about 3% than compared to last year which itself was down by 30% from its all-time high in June 2007 when an Orange County home cost about $505,000.

However, in terms of sales, the August sale dropped by 3% since July but this an improvement of nearly 3% upon their sale a year back. In Southland, the August sales fell by about 11% from that of July, mainly due to the weakening inventory of foreclosures and the lingering financial uncertainty among potential buyers. With the economy showing signs of recovery lately, sale and purchase of property are soon expected to gain momentum.

This entry was posted on Friday, September 18th, 2009 at 1:37 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.