The September 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 5.9%, from one year ago today, to $450,000. That’s $5K higher than last month’s median for all homes.
Also, condominium values have increased 14.2% to $305,000 ($10K higher than last month’s median) and resale homes 6.3 % to $510,000 (conversely, $8K lower than last month’s median).
Here in sunny Anaheim Hills, North Orange County, California the news is on par with the rest of the county. Median home values, for all homes sold in the 92808 and 92807 zip codes, has increased 5% over the past 12-months to $467,500. That’s $75.5K higher than last month’s median for Anaheim Hills. Confirming that last month’s poor performance in Anaheim Hills was an anomaly – as we had surmised and reported in our August Home Values Report.
The inventory of resale homes for sale in Anaheim Hills remains at historic recorded lows and there are multiple offers on properties that are priced right. The data also confirms that it is a seller’s market flooded with investors seeking to reap financial gains.
For homeowner in the $250K to $650K price range seeking to move up into a larger home, in the $700K and above price range, this is the time to do it because there exists an increase inventory and bargains on price due to lack of demand in this segment of the market.
For more info go to: http://dqnews.com/Charts/Monthly-Charts/OC-Register-Charts/ZIPOCR.aspx