Orange County Real Estate Market UpdatePosted by Surterre Properties on Monday, September 13th, 2010 at 9:19am
This week’s compilation of real estate headlines includes positive reports on Orange County home prices and home sales. If you are interested in receiving a weekly round-up of Orange County real estate news, sign up for our RSS feed to receive instant updates regarding real estate in all Orange County cities including Newport Beach, Newport Coast, Corona del Mar and Laguna Beach.
TRENDS FOR THE 22 BUSINESS DAYS ENDING AUGUST 24TH
Resale Homes Up 5.0%
New Homes Up 29.3%
Resale Condos Up 5.5%
Median Price $440,000 up from $420,000 a year ago
Foreclosures 629 for the month of July that is down 9.6% from June and down 22% from July of 2009
-Jonathan Lansner, Orange County Register Real Estate Section 9/12/2010
VORACIOUS APPETITE FOR FORECLOSURES
Contrary to popular belief, foreclosures do plague the market. Buyers should not expect a wave of foreclosures, either. The slow methodical pace of foreclosures will only increase slightly over time. There are currently only 684 foreclosures on the market, representing only 6% of the total active inventory.
-Marilyn Kalfus, Orange County Register Real Estate Secton 9/12/2010
NEW BUSINESSES UP 10.6% IN AUGUST OVER YEAR AGO
3,121 DBA’s were filed in August…it is the first year - over – year increase since March.
-Jan Norman, Orange County Register Business Section 9/10/2010