The December Dataquick home values report is out for Orange County (OC). Over the past 12 months, home values have decreased as follows: condos have dropped 7.1% finishing the year at $260,000; resale homes 4.5% coming in at $449,000, and the median sale value for all OC homes ended 2011 at $400,000; posting a 2.4% net decrease year-to-date.
Here in sunny Anaheim Hills, North Orange County, California the news is actually much better. Median home values, for all homes sold, in the 92808 and 92807 zip codes has actually increased by 8.8% — ending at $466,000. That’s great news and far better than expected.
None-the-less, this Realtor continues to project additional decreases in 2012 especially in the high-end, luxury homes, market. My projection is that by the end of this year, the median value for all OC homes will be approximately 3% below its current $400,000….ending 2012 at $388,000.