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Home Sales Rose in 95% of OC Market in 2012

By Jeff Collins, January 23rd, 2013, Orange County Register

Home sale gains were widespread throughout Orange County's housing market in 2012, with sales rising in 77 of the county's 83 ZIP codes, according to a year-end report by market tracker DataQuick Information Systems.

Those "up" ZIP codes accounted for 95 percent of all sales in the county.

Meanwhile, the annual median home price, or price at the midpoint of all sales, increased in 57 O.C. ZIP codes last year and was flat in six ZIPs. Price drops occurred in 20 ZIP codes, representing just over a fifth of the 2012 market.

Countywide, last year's sales tally of 34,380 was an increase of 16.9 percent. The median price for all 2012 sales was $439,000, up 3.9 percent over 2011 and the highest annual median since 2008.

On the other hand, last year's median price remains 30 percent below the peak of $630,000 for 2006. Home sales still were 20 percent below the average of 43,000 for the previous 24 years.

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