DataQuick says January’s median selling price for all residences was $520,000. That’s …No word yet from the National Association of Realtors on this one.
• 13.3% below a year ago.
• The lowest overall median since April 2004.
• A drop of 19.4% from June 2007’s peak of $645,000. This seven-month collapse is bigger than the 16.4% drop seen from peak to valley in the early 1990s slump. And that drop took 55 months to complete.
Price Vs. ‘07 Vs. Peak Volume Vs. ‘07 Vs. Peak
Resale houses $583,250 -13.6% -20.5% 806 -44.5% -81.3%
Resale condos $375,000 -14.8% -20.2% 327 -39.2% -80.4%
New residences* $506,000 -6.2% -41.4% 153 -62.8% -88.2%
All homes $520,000 -13.3% -19.4% 1,286 -46.4% -80.1%
Thursday, February 14, 2008
Orange County Home Prices Plummet to April 2004 Level
The Orange County Register reports:
