After eighteen straight months of year-over-year sales declines, sales of single-family, re-sale homes rose 24.3% in July. Actually, that was only the second time in the past 33 months that sales have been up year-over-year.
The median price for single-family, re-sale homes in Orange County fell 6.4% from June. Year-over-year, the median price was off 28.3%.
The large number of bank-owned properties working their way through the market are skewing statistical prices downward, just as in the heydays of the market, the large number of million dollar plus sales skewed statistical prices upward.
Orange County condo sales rose 58.6% from June, and were uo 22.8% year-over-year. The median price fell 8.2% to $336,000, a year-over-year drop of 26.6%.
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