Orange County neighborhood real estate update

Here’s the latest real estate stats for Orange County as of September 2013.

In Orange County 1,408 homes were sold in September, up from last years total of 1,369 for the same month.

The average days a home spent for sale on the market in Orange County was 63, a sizable decrease from September 2012’s average DOM of 87.

Homes in Orange County are selling for 97.3 percent of their original asking price, up from 2012 when the average was 94 percent. Not too shabby!

The average sales price of condos and townhomes in Orange County was $126,747. This is 17 percent higher than last years average sales price for multi-family homes, $108,044.

Single-family homes in Orange County had an average sales price of $222,595, up from $208,097 in September 2012.

Detached homes sold at a higher rate than condos and town homes in September, 1,040 single-family homes sold versus 348 multi-family.

Once again cash was king, with 627 of the 1,408 homes sold being purchased with cash. Conventional financing was used in the purchase of 496 of the sold homes. FHA loans were the third largest means of purchasing homes in Orange County, with the remaining sales being divided up into assumable, VA and other types of financing.