Orange County real estate trends in June 2012

As the summer season begins to wind down, the buying season may also start to slow a bit. The warmer months are historically a busy time of year for the housing market, but it is still a good idea to consider the latest local real estate trends to get an idea of the how the market might fair during the upcoming weeks.

According to June 2012 statistics from DataQuick, the median home sale price in Orange County was $453,000. This includes all resale homes, condominiums and new homes that were sold during the month. The average price of a new home sold was $617,750. These reports reveal that for all homes, the median price percent change year-over-year was 1.8 percent.

The greatest median price percent change year-over-year in Orange County was in Foothill Ranch. Of the 35 homes sold in the area last month, the median price was $402,500 - a whopping 35.3 percent increase from June 2011. This may be a good sign for those hoping to invest in real estate in Foothill Ranch or another Orange County city.