DataQuick reports that the number of homes sold in Southern California has jumped to it's highest level since 2006, and that the median price was up for the second consecutive month.
Perhaps the most encouraging tidbit in the report is this:
Resales of single-family houses priced $500,000 and above rose to 19.6 percent of all existing houses sold in June, up from 18.0 percent in May but still down from 29.2 a year ago. The last time the $500,000-plus market made up more than 19 percent of sales was last October, when it was 19.9 percent. Sales of $500,000-plus houses dipped to as little as 13.4 percent of sales in January this year.
The recent shift toward higher-cost markets contributing more to overall sales has put upward pressure on the region’s median sale price...
Foreclosures and Short Sales continue to be a significant portion of the active market, but most of that activity continues to be in the lower price ranges where homes are in extremely high demand.
What's the hottest spot in the OC? The Register reports that sales in Huntington Beach were up 19% in June compared to last year, topping the overall Orange County increase of 16.5%.
Interested in what's on the market in your neighborhood? Check out the Orange County Deal Detective - where you can customize a search for exactly what interests you.
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