The latest Orange County homebuying data shows prices are up and sales are rising as deal making speeds up.
Here are 16 real estate trends you should know:
CoreLogic tracks patterns from public records of closed sales. For the 22 business days ending July 14 …
1. Orange County’s median selling price for all residences was $698,000 — up 8.2 percent compared to a year ago, CoreLogic reported.
2. There were 3,756 Orange County residences sold in the period, up 3.1 percent from a year ago.
3. At the neighborhood level, prices were up in 66 of 83 Orange County ZIP codes compared to the previous year.
4. Sales rose in 39 of 83 Orange County ZIPs compared to the year-ago period.
5. Resales of existing homes totaled 3,429 — up 5.5 percent from a year ago.
6. Builder sales were 327 — down 16.6 percent from a year ago.
7. In the 27 least expensive ZIPs — median sales price at $632,500 and below — 938 homes sold. That’s down 8.4 percent compared to a year ago.
8. In the 27 priciest ZIPs — median of $760,000 and above — 1,246 homes sold. That’s up 8.3 percent vs. a year ago.
9. By the way, in the 10 Orange County ZIP codes with median selling prices above $1 million, sales totaled 294 homes, up 7.30 percent compared to a year ago.
ReportsOnHousing tracks the supply of homes existing homes for sale and residences entering escrow from broker listing networks. As of July 27 …
10. Countywide, 5,967 listed for sale and 2,835 homes entered escrow in past 30 days.
11. Tracking speed of selling by comparing inventory to escrows, “market time” is 63 days now vs. 77 a year ago and 79 two years earlier.
12. By price slices, listings under $500,000: 830 listings and 704 new escrows for market time of 35 days.
13. From $500,000 to $750,000: 1,523 listings; 1,059 escrows; market time 43 days.
14. From $750,000 to $999,999: 1,079 listings; 546 escrows; market time 59 days.
15. $1 million-plus: 2,574 listings; 536 escrows; market time 144 days.