What Were The Actual Numbers?
The total number of homes sold for February, (the last complete month available), was 2,725, up 13% from 2/20 (all comparisons are for same month year over year). Single-family homes numbered 1,671, up 10.6%. Condo sales continued their growth with 805 up 20%. New homes came back to mark 249 sales up 7the .8%. Prices also rose, as we all know— single-family median was $940,000, up 10.3% for that double/double. Condos did the same with a median price of $595,000, up 13.3%. New homes were $925,000, up 10.1%. The overall median price for OC was $820,000, up 9.6%. Monthly payments continue to reflect the fall of rates over the last year, as the average monthly payment dipped ever so slightly from $3,478 to $3,452, even though prices gained all of last year. Distressed properties are still quite low, representing a minuscule portion of the market.
Please give us a call at Premier Funding Network at 714-283-9900 if we can be of any assistance with your mortgage needs.