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O.C. house hunters seek bargains, condo sales up 15% in mid-October

O.C. house hunters seek bargains, condo sales up 15% in mid-October

Bargain hunters are still home shopping with vigor in Orange County, making condos a hot property.

For the 22 business days ending October 16, CoreLogic reports that condo resales totaled 968 — up 15 percent from a year ago. The median selling price for condos was $ 425,000 — up 6.3 percent from a year ago.

Countywide, 3,286 Orange County residences sold in the mid-October period, up 12.2 percent from a year ago. Orange County’s median selling price for all residences was $ 610,000 — up 6.1 percent compared to a year ago

Sales rose in 59 of 83 Orange County ZIPs compared to the year-ago period, with sales growth strongest in lower-price communities. In the 27 least expensive ZIPs — median sales price at $ 549,000 and below — total sales were up 15.9 percent compared to a year ago.

At the pricier end of the market in the mid-October period:

• Builders sold 303 new homes, down 4.4 percent from a year ago. The median price for newly constructed residences was $ 876,000 — up 16.6 percent from a year ago.

• In the 27 priciest ZIPs — median sales price beginning at $ 690,000 — sales were up 11.5 percent compared to a year ago.

• The six Orange County ZIP codes with median selling prices above $ 1 million had 173 sales, up 4.8 percent compared to a year ago. The most expensive ZIP code was Newport Coast 92657 at $ 2.7 million.

The Orange County Register – News Headlines : Real Estate News