Where did OC home sales jump the most?
This might be the perfect time to purchase real estate in Orange County as homebuying in the area increased during July 2012. The Orange County Register reports that last month featured the greatest number of home sale in the past 40 months.
It's been a good year overall for the Orange County real estate market as John Lanser, real estate expert for the news source, states homebuying soared in a total of 67 out of 83 OC ZIP codes in the past year. Six of these ZIPs even had buying activity that doubled or more since this time last year.
One of the areas that has done especially well in the housing marketing during the past year is Foothill Ranch ZIP code 92610. In July 2012 a total of 22 homes were sold, an 83.3 percent increase from July 2011. The median price in this community was $492,500. Garden Grove is another OC city that has prospered recently with 20 houses sold for a 122.2 percent year-over-year increase. The median sale price here was $303,000.
However, the town that lands at the top of the list is Newport Beach where 16 homes were sold for a 300 percent increase in sales compared to last year. The median price in this seaside city was $1,450,000. Investing in property in any one of these areas though may prove to be beneficial as experts predict this home sales trend might continue upward.