Orange County, California ~ REO Homes Sold Well in Local Housing Market ~ March 2009

... a great place to live and work, with some of the most beautiful canyon country, good wetlands, Southern California coastlines and lots of blue water, and mild and pleasant climate almost all year.

Orange County is home to more than 3 million people now and is the third most populous county in California, behind Los Angeles and and San Diego counties.

REO homes are selling at a brisk pace here at Orange County, California.

2,413 homes in all categories were sold in Orange County during March 2009, which is up 45% as compared to March 2008.

Median sales price of OC home sold during this time was $390K, which is down 24.3% as compared to March 2008.

This home price drop in March 2009 was primarily because of so many entry level and REO bank owned homes sold during this time.

SANTA ANA ~ the largest city on Orange County in terms of people and housing units.

During March of 2008, there were 30 REO homes sold at Santa Ana. During March of 2009, there were 183 REOs sold at Santa Ana - an increase of 610 percent. And the average sold price of an REO home in Santa Ana during March of 2009 was $199K.

ANAHEIM ~ During March of 2008, there were 37 REO homes sold. During March 2009, there were 92 REO homes sold.

HUNTINGTON BEACH ~ During March of 2008, there were 5 REO homes sold. During March 2009, there were 22 REO homes sold.

LAKE FOREST ~ During March of 2008, there were 14 REO homes sold. During March 2009, there were 40 REO homes sold.

To check market activity at your own Orange County zip code, see the Jon Lansner article at OCRegister.com - Home price up in 6 O.C. ZIPs in early April.

With lots of buying activity these days, we expect positive things to take place here at our Orange County housing market. However, this is our local Orange County housing market activity report only and not projecting what will happen in the future.

_______________________

For this article, I used information from SoCal Multiple Listing Service and DataQuickNews.com.

__________________________

If you want information about Orange County homes and properties, please contact us. Thank you.

Harrison K. Long, Explore Group Properties, Coldwell Banker Previews, Irvine, CA.

www.BuyersExploreHomes.com ~ www.ExploreTheOC.com