O.C. Home Sales Dip in April; Prices Continue Their Climb
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The number of homes sold in Orange County dropped in April, but prices continued to rise in what is traditionally a strong season for home sales.
The average price of a home hit $238,353 in April. That was up a robust 6% from March, when the price was $225,335, TRW Real Estate Market Information announced Wednesday.
TRW tracks the price of both new and used houses and condominiums.
April’s price was up 32% from the same month a year ago, when the average was $182,810.
Sales, however, plummeted compared to last year. In April, 3,693 condos and houses were sold, down 19% from March’s 4,583 and down 32% from the 5,420 sold in April, 1988.
Experts said the average price increased--despite slowing sales--because many of the most expensive homes in the county are still selling well, which raises the average.
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