April 2014 was a superb month for Anaheim Hills home values, the median for all homes sold increased 23% from the prior year to $625,000. That’s also $40K higher than last month’s median for Anaheim Hills.
Drilling down a bit deeper into the statistics, we learn that in April there were a total of 47 closed real estate transactions in Anaheim Hills; 31 of which were single family residences and 16 condominiums and/or town homes. Also, there were 5 properties that sold for over $1M totaling more than $5.7M in volume. This was also a major improvement from the previous 30 days. Based on the above facts, we feel that the median for Anaheim Hills is back on track and more representative of the areas home values.
So let’s take a look at what is happening in the rest of Orange County. Over the past 12 months, the median value for all homes sold increased 7.7% to $576,000. That’s $4K lower than last month’s OC median.
Similarly, Condominium values rose 8.3% to $395,000 or $3K lower than last month’s median.
Resale homes had year-over-year gains to 8.3% to $640,000. That’s $15K higher than last month.
New construction had 15.3% price increase during the same period with a median sale price of $808,000. That’s $30K higher than last month.
All-in-all, it appears that home values are stabilizing in Orange County. But, as the Federal Reserve continues to taper back its bond buying initiatives, we firmly believe that OC home values will decline in 2015.
For more info go to: http://dqnews.com/Charts/Monthly-Charts/OC-Register-Charts/ZIPOCR.aspx