The January 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 17.3%, from one year ago today, to $460,000. That’s $10K less than last month’s median for all homes. Also, condominium values rose 17.6% to $305,000 ($5 lower than last month’s median) and resale homes 15.6% to $520,000 ($7.5K less than last month’s median). The segment to watch is new construction that saw 23.11% price increases during the same period with a median price of $689,500. I believe new home sales are significantly contributing to the median increases for all homes sold in the OC.
Here in sunny Anaheim Hills, North Orange County, California the news is positive, but not as good. Median home values, for all homes sold in the 92808 and 92807 zip codes, rose 7.6% over the past 12-months to $409,125. That’s $86.38K less than last month’s median for Anaheim Hills.
All-in-all, we continue to see steady increases in home values across the board including condos, resale and new construction homes. Another interesting thing to note is that distressed home sales are no longer a significant part of OC inventory. This is great news for those seeking to bring a resale home to market.
For more info go to: http://dqnews.com/Charts/Monthly-Charts/OC-Register-Charts/ZIPOCR.aspx