Home Price Average Up Nearly 24% in Last Year
September was a strong month for home sales in Orange County, TRW Real Estate Market Information said, with sales and prices far ahead of last year.
The average price of a home--counting new and resale houses and condominiums--rose nearly 24% from a year ago, the company said, to $216,162 from $174,737.
TRW counted 5,437 sales of homes in county property records in September, up nearly 14% from a year ago, when 4,780 homes were sold.
September sales dipped from August sales by 3.5%, but sales normally drop in the fall after the busy summer home-buying season.
Prices, however, rose 2.4% during September from August’s average price of $211,074.
TRW differs from other published surveys in its estimate of average prices because--unlike other surveys--it counts both new and resale homes.
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