The July 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 20% to $539,000. That’s $6K lower than last month’s median for all homes sold. Also, condominium values rose 26.7% to $380,000. That’s also lower than last month’s median by $4K. Resale homes had similar year-over-year gains 18.6% to $611,000. But, overall, these values are down $4K in 2 months or .7%.
New construction had 20% price increase during the same period with a median sale price of $706,500. And, the good news here is that’s $25,500 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 25.5% over the past 12 months to $537,000. The even better news is that’s $22K higher than last month’s median for Anaheim Hills.
Although home values show year-over-year gains, the last two months demonstrate a significant declines in home values month-over-month. My firm prediction is that home values in the North OC have peeked and will decline 2% to 3%, from their peak values in June 2013, through the end of the year.
For more info go to: http://dqnews.com/Charts/Monthly-Charts/OC-Register-Charts/ZIPOCR.aspx