Newly released data from Realtor.com for February shows that potential buyers and sellers in Orange County saw homes selling for higher than the previous month’s median sales price of $375,000.
The average home sold for $381,000, according to an analysis of data from Realtor.com. This means that February, the most recent month for which figures are available, was 1.6% higher than January.
Compared to February 2023, the median home sales price was up 3.6% to $381,000, up from $367,750.
Realtor.com pulls sales data from real estate deeds, resulting in a delay of a few months in up-to-date data. The statistics do not include homes currently for sale and are not directly comparable to listing data.
Information about your local housing market, along with other useful community data, is available at data.recordonline.com.
Looking only at single-family homes, the median sales price of $395,000 in Orange County in February was 0.4% higher than $393,500 the month before. Since February 2023, single-family home sales prices have fallen 2.5% from an average of $405,000.
Six single-family homes sold for $1 million or more during the month, compared to three recorded transactions of at least $1 million in February 2023.
Sales prices for condos and townhomes rose 14.4% in February to an average of $349,000, up from $305,000 in January. Compared to February 2023, the sales price of condos and townhomes was up 16.3% from $300,000. Seven condos or townhomes sold for $1 million or more during the month, compared to two recorded transactions of at least $1 million in February 2023.
In February, the number of recorded sales in Orange County since February 2023 fell 6.5% from 321 to 300. All residential sales totaled $190.4 million.
In New York, homes sold for an average of $390,000 in February, down 0.2% from $390,816 in January. There were 7,516 recorded sales across the state in February, down 14.8% from the 8,821 recorded sales in February 2023.
The total value of recorded home sales in New York fell 0.7% from $6.2 billion in January to $6.2 billion in February.
Of all home sales in New York, 13.68% of homes sold for at least $1 million in February, up from 13.57% in February 2023.
Single-family home sales prices across New York fell 2.2%, from an average of $344,461 in January to $336,967 in February. Since February 2023, single-family home sales prices across the state have fallen 20.3% from $423,000.
Across the state, sales prices for condos and townhomes rose 0.6%, from an average of $506,766 in January to $510,000 in February. The median sales price of condos and townhomes fell 4.8% from the median of $535,666 in February 2023.
The median home sales price used in this report represents the midpoint of all homes or units listed during the given period. The median provides a more accurate picture of what’s happening in a market than the average sales price, which would involve taking the sum of all sales prices and then dividing it by the number of homes sold. The average can be distorted by one particularly low or high sale.
The USA TODAY Network is publishing localized versions of this story on its news sites nationwide, generated with data from Realtor.com. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu.
This article originally appeared in the Times Herald-Record: Homes in Orange County recently sold for higher prices: see how much here
