From the Orange County Business Journal article by Mark Muller:

The median price of an existing Orange County home inched back above the $500,000 mark in November, although the pace of sales here remained weak.

The median price for an existing stand-alone home sold here in November was $502,170, the California Association of Realtors said Wednesday.

That’s a 2.9% increase from October and a 0.6% increase from the median price homes here were selling at a year earlier.

Prices here have been hovering near the $500,000 mark for much of the past year.

The county’s median sales price now is up about 19% from the recent bottom of the market seen in January 2009, according to the association’s figures.

Prices here still are off nearly 33% from the peak of the market when the median sales price for an OC home topped $747,000 in April 2007.

The number of OC home sales in November was down 4% from a month earlier, the Realtor association said. Sales were down more than 14% from a year earlier.

The median sales price of an existing home in California was $296,820 in November, a 2.4% decrease from October and a 2.4% increase from a year earlier, according to the association.

It was the first time the state’s median price fell below the $300,000 mark since February.

Sales in all of California were up nearly 9% from October’s levels, but were off nearly 9% from a year earlier.

The number of active listings declined in November from October, particularly for homes priced above $500,000, according to the Realtor association.

The association excludes condominiums from its figures.

Including condos, the median price of an OC home sold in November was $435,000, a less than $2,000 drop from October, and a 0.6% increase from a year ago, according to a report last week from San Diego-based MDA DataQuick, a unit of Canada’s MacDonald, Dettwiler and Associates.

Posted by Jackie Gibbins

I live and work in Mission Viejo as a Real Estate Agent. Born in Santa Monica, CA and grew up in Westminster and Huntington Beach. Middle child of five and mother to two awesome sons, now grown. An artist, nature lover, observer, geek and people person, I love the area, love what I do and enjoy sharing any info and insights so others can find their dream as well.

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