August Home Values Report

The August 2013 Dataquick home values report is out for Orange County (OC).

Over the past 12 months, the median value for all homes sold in the OC has increased 25.8% to $560,000. That’s $21K higher than last month’s median for all homes sold. Also, condominium values rose 23.4% to $364,000 ($16K lower than last month’s median).

Resale homes had year-over-year gains to 20.7% to $625,000 ($14K higher than last month).

New construction had 28.3% price increase during the same period with a median sale price of $707,000 just $500 higher than last month’s median.

So what’s happening here in the North OC, Anaheim Hills, California? Median home values, for all homes sold in the 92808 and 92807 zip codes, rose 42.9% over the past 12 months to $555,000. The even better news is that’s $18K higher than last month’s median for Anaheim Hills.

Although home values show year-over-year gains, the previous two months demonstrate significant changes in home values month-over-month. My prediction is that home values in the North OC have peeked and will either decline 2% to 3% (to $approximately $545K for all h0mes sold in the OC) or stay flat through the end of the year.

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