California News Blog

The Buena Park real estate market, part of the northern Orange County housing market, showed strong signs of improvement in the most recent tracking period. According to a June 15, 2010 article in the OC Metro, “Orange County’s median home price and sales numbers got a welcome boost in May, partly due to government tax credits, low mortgage rates and more activity in higher-priced areas, according to a new report from MDA DataQuick.” The piece, composed by Kristen Schott, went on to state that “The median home price rose to $450,000 in the county, up about 10 percent from the same time last year. It’s the ninth consecutive year-over-year gain, according to the real estate information service. The price also increased from April when it hit $430,000…The regional uptick in the median could be attributed to a shift to higher-priced home sales in coastal areas such as Orange County, according to MDA DataQuick.”

Buena Park homes for sale, and the northern Orange County properties in general, sold more quickly and in greater volume in the most recent tracking period. According to a June 12, 2010 article from the Orange County Register, “For the 22 business days ending May 25 – DataQuick’s latest stats – the 22 ZIPs located in north inland communities showed…725 homes sold, that is +7.9% vs. a year ago. The median selling price of these ZIPs was $452,500 – that is +2.1% vs. a year ago.” The article went on to note that “The north inland ZIPs comprised 22.8% of the recent home sales in Orange county vs. a 24.3% a year ago…36 ZIP codes in beach towns and inland South County communities had 1,657 home sales. That’s down 0.4% vs. a year ago. Thus, the share of Orange County homes sold in mid-county and inland North County neighborhoods was 52% vs. 60% a year ago.”

The number of distressed homes for sale in the Buena Park housing market as well as the rest of the Orange County real estate market was slightly elevated. According to a June 15, 2010 article in the OC Metro, “The distressed inventory continued its slow climb this year, adding an additional 89 homes in the prior two weeks and now totaling 3,080, a 3% increase.”