After four consecutive months of home value declines and amazing results last month, the median for all home sold in Anaheim Hills rose 8.5% to $540,000. That’s $20K higher than last month and proves my prediction wrong that home values will continue to decline through year’s end. For now, we will just have to keep an eye on the next three month’s Dataquick reports to see if these past two month’s phenomenal gains were merely an anomaly or if the appetite for residential real estate here in North OC is greater than its inventory.
Let’s take a look at the rest of Orange County. Over the past 12 months, the median value for all homes sold has increased 21.3% to $570,000. That’s $10K higher than last month’s median.
Condominium values rose 22% to $372,000 or $1K lower than last month’s median.
Resale homes had year-over-year gains to 21% to $639,000. That’s $29K higher than last month.
New construction had 15% price increase during the same period with a median sale price of $707,000.
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