The March Dataquick home values report is out for Orange County (OC). Over the past 12-months, home values have decreased as follows: condos have dropped 10.8% settling at $260,000; resale homes 5.4% at $462,750, and the median sale value for all OC homes is $400,000; posting a 7.0% decrease in total.
Here in sunny Anaheim Hills, North Orange County, California the news is not as upbeat. Median home values, for all homes sold, in the 92808 and 92807 zip codes has decreased 17.05% over 12-months – coming in at a $383,750 median. My hunch is that a lot of condos must have sold this past year.
If we compare the OC median (for all homes sold) above to last month’s median of $388,500, we actually had an increase of $11,500 or 3%.
With interest rates inevitably on the rise, this Realtor continues to project net decreases in 2012. By the end of the year, the median value for all OC homes will be $388,000 – for a total 3% decline for the 12 month period.