The September 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 22.2% to $550,000. That’s $10K lower than last month’s median for all homes sold.
Condominium values rose 24.6% to $380,000 ($16K higher than last month’s median and equal to July’s average).
Resale homes had year-over-year gains to 20% to $612,000 ($13K lower than last month).
New construction had 2.6% price increase during the same period with a median sale price of $696,500 or 707,000 more than $10K lower 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 2% over the past 12 months to $469,000. A very bad month for Anaheim Hills and almost $60K lower than last month’s median.
Although home values show year-over-year gains, the previous two months demonstrate significant changes in home values month-over-month. My prediction is that home values in the North OC have peeked and will either decline 2% to 3% (to $approximately $545K for all h0mes sold in the OC) or stay flat through the end of the year.
For more info go to: http://dqnews.com/Charts/Monthly-Charts/OC-Register-Charts/ZIPOCR.aspx