Orange County home sales soar
So far, summer has been good for real estate in Orange County. Whether people are moving to the area for a new job or simply to enjoy all that the picturesque Southern California county has to offer, there appears to be an influx of homeowners to the OC, as home sales have been increasing recently.
According to the Orange County Register, homebuying in Orange County is at a six-year high. For the 22 business days ending in June, the news outlet reports that both house and condo sales were gaining compared to a year ago, based on information from DataQuick. The average price of a house sold in June was $505,000, up 2 percent from the previous year and the average price of a condo sold was $280,000, up 4 percent. Furthermore, 2,139 houses were sold during June in Orange County, a 15 percent increase compared to a year ago and 929 condos were sold, a 18.3 percent increase.
The local market began seeing gradual increases of this nature in spring, and it has been continuing to blossom since.
One Orange County city where homebuying is especially on the upswing is Westminister. Located at the northwest end of the county, Westminster is a vibrant community bordered by Seal Beach, Fountain Valley, Garden Grove and Huntington Beach. Not only does this city offer a variety of shops and restaurants, making it a popular tourist attraction, but it also won the All-American City Award in 2006, a prestigious distinction given by the National Civic League for outstanding civic accomplishments.
These are likely just a few of the reasons why Westminster continues to attract residents and perhaps why homebuying has been rapidly increasing in the area of late. The news source states that for the 22 business days ending June 21, 62 residences were sold in Westminster. This is a whopping 67.6 percent increase from the 37 homes that were sold during the same period last year. Home sales in Westminster accounted for 1.9 percent of the total sales in Orange County during the period, a 1.3 percent increase from the previous year.
The median selling price in Westminster during June was $370,000. While this is a 2 percent decrease from last year, the number of homes sold still makes for a respectable seller's market and the lower prices may be good news for buyers.