2 O.C. cities enjoy Top 10 price gains

Link: http://lansner.freedomblogging.com/2010/04/26/2-o-c-cities-enjoy-top-10-price-gains/63361/

Original Post Date: April 26th, 2010, 12:01 am

By Marilyn Kalfus

Two Orange County cities — Newport Beach and Placentia — made it into the state’s Top 10 for median home price gains in March, the California Association of Realtors reports.

In Orange County:

  • The overall median price in March was $493,120, an increase of 10.9% from March 2009 and up 2.2% from  February.
  • Sales rose 14.9% from 2009, and were up 39.3% from February.
  • The county’s unsold inventory was at 6.5 months in March, compared with 8.5 months in February and 7.2 months in 2009.
  • Time that O.C. homes spent on the market: 55.6 days in March, compared with 58.3 days in February and 37.4 days in a year ago.

Also …

  • Newport Beach was also among the Top 10 cities in the state for median home prices in January, at $1,102,250.