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OC Home Sales Jump by More than 25 Percent

November saw a significant year over year increase in home sales while prices climbed by 12.5 percent.

The number of homes sold in Orange County jumped by 25.3 percent in November, compared to the same month a year ago, while prices rose by 12.5 percent, a real estate information service announced today.

A total of 2,879 homes were sold in November, up from November 2011, when 2,297 homes were sold. The median home price was $450,000 last month, up from $400,000 in November 2011, according to DataQuick.

A total of 19,285 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in November, according to DataQuick. That was down 8.5 percent from 21,075 in October, and up 14.2 percent from 16,884 in November 2011.

The median price for a Southern California home was $321,000 in November, up 1.9 percent from $315,000 in October and up 16.7 percent from $275,000 in November 2011.

``The government's offered people an amazing gift in the form of extraordinarily low mortgage rates,'' DataQuick President John Walsh said.

``But that's not the only thing fueling these sales gains. Investor activity and cash purchases remain unusually high, and more buyers feel confident about their jobs, the economy and the likelihood housing prices have bottomed and are likely to rise.''

TELL US WHAT YOU THINK IN THE COMMENTS

Is it safe to say that the California housing market has recovered from the recession?

 - City News Service

Anonymous December 13, 2012 at 08:20 AM
I got into the market too late. I had a $282,000.00 pre-approval from Wells Fargo two months ago but couldn't find a nice two bedroom two bath condo that would sell VA anywhere near Huntington Beach. The realtor said all the houses and condos in this price range are being bought by investors and will be resold or rented when the market gets hotter than it is now. I'm still renting for another year.
Jason Conn December 13, 2012 at 09:58 PM
Dennis: I am a realtor based out of Huntington Beach. I grew up in Huntington Beach and went to Huntington High School...needless to say I am very familiar with the city. I currently live in Rossmoor. I am a part of The Stanfield Group and the First Team office off Goldenwest right by Huntington High School. Per the Wall Street Journal our team is #1 in California and #5 in the entire United States. If you would like to talk about additional options please shoot me an email at jason@stanfieldgroup.net. I would not give up so soon.

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