South Coast Home Sales Increase from Last Year

If you live in the Dana Point, Laguna Beach, San Clement or Orange County areas of California you’ll be delighted to know that home sales have risen approximately 44 percent since last year.

DataQuick has compiled the latest home buying statistics which cover the 22 business days ending December 4 in South Coast beach cities. They discovered that three-city sales totaled 161 in those 22 business days, which is up 44 percent since the same time period one year ago. In comparison, nationwide sales were only up 9 percent this past December versus the prior year.

In the Dana Point zip code of 92624, the median home price is $746,250 which is up 20 percent from last year. The zip code saw nine sales within the surveyed time frame, which is up 50 percent from last year.

Laguna Beach (zip code 92651) saw the greatest increase in sales, although the median home price of houses in the area actually decreased 8 percent. The median price is $1,172,500 where as last year it was 8 percent higher, however there were 38 sales in the area which is an increase of 100 percent from last year.

Orange County had the fastest year-over-year appreciation in nearly four years. The area saw a $440,000 median selling price, a 10 percent increase from the previous year. This median is 19 percent above the cyclical low which hit in January 2009 at $370,000. November “marked 16 out of 17 months with sales gains versus the year-ago period. That followed 33 consecutive months where sales failed to beat the previous year’s pace.” In the most recent period, Orange County residents purchased 3,117 residences, up 14 percent versus year-ago buying activity.

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