After four consecutive months of home value declines, the median for all Anaheim Hills home sold rose 7.8% to $520,000. That’s $8K higher than last month and contrary to my predictions 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 this month’s gains were just an anomaly or if the appetite for residential real estate here in the 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 24.4% to $560,000. That’s $20K higher than last month’s median. This is big real estate news!
Condominium values rose 21.3% to $373,000 or $3K lower than the last two month’s median.
Resale homes had year-over-year gains to 16.2% to $610,000. That’s equal to last month.
New construction had 18% price increase during the same period with a median sale price of $715K.
For more info go to: http://dqnews.com/Charts/Monthly-Charts/OC-Register-Charts/ZIPOCR.aspx