Median Home Prices in Orange, San Diego Counties Post Double-Digit Increases in March

Apr 13, 2001, 01:00 ET from California Association of REALTORS

    LOS ANGELES, April 13 /PRNewswire/ -- Homes sales in Orange County were up
 3.0 percent in March and the median price of a single-family home rose
 10.4 percent compared to the same period a year ago, according to a
 preliminary report released today by the California Association of
 REALTORS(R).  In San Diego County, sales fell 10.6 percent while the median
 price increased 11.1 percent in March compared to the same period last year.
     The median price of an existing, single-family detached home in Orange
 County during March rose to $336,160, a 10.4 percent increase over the
 $304,390 median for March 2000, C.A.R. reported.  In San Diego County, the
 median price of an existing, single-family detached home in March was
 $285,530, up 11.1 percent from $256,990 in March 2000.
     C.A.R.'s regional housing information is compiled from Multiple Listing
 Services (MLS) data, representing the most current indicator of the home
 resale dynamic in Orange and San Diego counties.
 
     Highlights include:
 
     *  C.A.R.'s Unsold Inventory Index for existing, single-family detached
        Orange County homes in March was 2.8 months, up slightly from
        2.2 months for the same period a year ago.  The index indicates the
        number of months needed to deplete the supply of homes on the market at
        the current sales rate.  In San Diego County, C.A.R.'s Unsold Inventory
        Index for existing, single-family homes was 5.9 months in March, up
        from 4.3 months for the same period a year ago.
     *  The median number of days it took to sell a single-family home in
        Orange County was 25 days in March, unchanged from March 2000.
 
     C.A.R.'s March 2000 existing home sales and median price report for
 California and regions within the state will be released April 25.  The
 Association's Housing Affordability Index for March will be released on May 3;
 previous affordability indexes also are archived on C.A.R.'s Web site devoted
 to the state's housing affordability crisis at
 http://www.car.org/affordability.  News releases are posted on the
 Association's Web site, C.A.R. Online, at http://www.car.org.
 
     The California Association of REALTORS(R) (http://www.car.org) is one of
 the largest state trade organizations in the United States, with more than
 97,000 members dedicated to the advancement of professionalism in real estate.
 C.A.R. is headquartered in Los Angeles.
 
 

SOURCE California Association of REALTORS
    LOS ANGELES, April 13 /PRNewswire/ -- Homes sales in Orange County were up
 3.0 percent in March and the median price of a single-family home rose
 10.4 percent compared to the same period a year ago, according to a
 preliminary report released today by the California Association of
 REALTORS(R).  In San Diego County, sales fell 10.6 percent while the median
 price increased 11.1 percent in March compared to the same period last year.
     The median price of an existing, single-family detached home in Orange
 County during March rose to $336,160, a 10.4 percent increase over the
 $304,390 median for March 2000, C.A.R. reported.  In San Diego County, the
 median price of an existing, single-family detached home in March was
 $285,530, up 11.1 percent from $256,990 in March 2000.
     C.A.R.'s regional housing information is compiled from Multiple Listing
 Services (MLS) data, representing the most current indicator of the home
 resale dynamic in Orange and San Diego counties.
 
     Highlights include:
 
     *  C.A.R.'s Unsold Inventory Index for existing, single-family detached
        Orange County homes in March was 2.8 months, up slightly from
        2.2 months for the same period a year ago.  The index indicates the
        number of months needed to deplete the supply of homes on the market at
        the current sales rate.  In San Diego County, C.A.R.'s Unsold Inventory
        Index for existing, single-family homes was 5.9 months in March, up
        from 4.3 months for the same period a year ago.
     *  The median number of days it took to sell a single-family home in
        Orange County was 25 days in March, unchanged from March 2000.
 
     C.A.R.'s March 2000 existing home sales and median price report for
 California and regions within the state will be released April 25.  The
 Association's Housing Affordability Index for March will be released on May 3;
 previous affordability indexes also are archived on C.A.R.'s Web site devoted
 to the state's housing affordability crisis at
 http://www.car.org/affordability.  News releases are posted on the
 Association's Web site, C.A.R. Online, at http://www.car.org.
 
     The California Association of REALTORS(R) (http://www.car.org) is one of
 the largest state trade organizations in the United States, with more than
 97,000 members dedicated to the advancement of professionalism in real estate.
 C.A.R. is headquartered in Los Angeles.
 
 SOURCE  California Association of REALTORS

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