Orange County housing market strengthens
For property owners considering selling real estate in Orange County, now may be a great time to do so as area home prices have recently hit a post-crash high. According to The Orange County Register, this spring Orange County homebuyers bought 9,550 homes - making it the busiest selling season since 2006.
DataQuick reports the median home selling price in June 2012 was $435,000 in Orange County. This is a 1.8 percent increase from June 2011 and a whopping 22 percent above the critical low of $370,000 in January 2009, reports the publication. However, this is still 30 percent lower than the median sales price during its peak, back in February 2004.
The source states that condo sales were also positive last month, as 926 sold in Orange County in June 2012. This is a 11.2 percent increase from the previous year. Furthermore, DataQuick points out that this is the fourth month in a row that there has been a double-digit percent gain on a year-over-year basis.
Anyone hoping to sell their home or condo within the next few months may want to consider doing so soon in order to take advantage of these prices. While the market is looking optimistic for the future, it is not quite back to where it was and could continue to slightly waver.