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Orange County homebuying jumps 6% as Southern California sales hit 7-year high – Orange County Register

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Orange County house hunters joined a regional buying spree in October.

Orange County home sales totaled 3,061 in the month — up 6% in a year CoreLogic/DQ News reported. The countywide median selling price was $725,000 — up 0.7% over 12 months.

In six Southern California counties, 20,761 homes sold — up 8.2% in a year. The regional median selling price was $535,000 — up 1.9% over 12 months. The last time SoCal buyers were more active in an October was 2012.

Here are five things you should know about key market niches in the Orange County market in October … 

1. Existing single-family houses: 1,881 sold, up 12.1% in a year. Median of $530,000 — a 0.7% rise over 12 months.

2. Existing condos: 820 sales, up 2.5% over 12 months. Median of $682,500 — a 1.9% fall in a year.

3. Newly built: Builders sold 360 new homes, down 12% in a year. Median of $1,083,000 — a 0.5% rise over 12 months.

4. Builder share: 11.8% of sales vs. 14.2% a year earlier.

5. Rank: How pricing in Orange County ranked among Southern California’s six counties: No. 1 overall; No. 1 for single-family resales; No. 2 for condo resales; and No. 1 for new homes.

Elsewhere in Southern California …

Los Angeles County: 6,744 sold, up 5.6% over 12 months. Median of $620,000 — a 4.2% increase.

Riverside County: 3,650 sales, up 11.4%. Median? $395,000 — a 3.9% increase.

San Bernardino County: 2,816 sold, up 8.1%. Median? $350,000 — a 5.2% increase.

San Diego County: 3,485 sales, up 10%. Median? $573,500 — a 2.6% increase.

Ventura County: 1,005 sold, up 17%. Median? $580,000 — a 3% decline.

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About The Author
Jeff Stearman

Jeff has experienced much success in his many years as a Realtor, consistently ranking in the Top 1% of Realtors nationally as well as the Top Agent locally. Jeff also has an MBA and Graduate Realtor Institute (GRI) designation and is Certified Short Sale Specialist and Distressed Property Negotiator and Expert. Jeff has a firm grasp on today’s real estate market and is an expert in all areas of residential real estate, including: traditional sales, residential income properties, vacation properties, luxury homes, as well as distressed properties. Additionally, with his background in mortgage & financial consulting, Jeff can help you understand the numbers side of real estate and offer valuable advice on the different types of home loans and financing options that you could take advantage of. His clients say: "If you want something done, ask a busy Realtor.” The Stearman Group has successfully sold over 3,000 homes because they carefully work with their clients to create successful solutions. They strive to solve your individual housing needs-one client at a time. His team gives only the Best Personalized Service to each of their clients every single time.

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