Newly released data from Realtor.com for February shows that potential buyers and sellers in Orange County saw houses sell for higher than the previous month’s median sales price of $375,000.
The median home sold for $381,000, an analysis of data from Realtor.com shows. That means February, the most recent month for which figures are available, was up 1.6% from January.
Compared to February 2023, the median home sales price was up 3.6% at $381,000 compared to $367,750.
Realtor.com sources sales data from real estate deeds, resulting in a few months’ delay in up-to-date data. The statistics don’t include homes currently listed for sale, and aren’t directly comparable to listings data.
Information on your local housing market, along with other useful community data, is available at data.recordonline.com.
Looking only at single-family homes, the $395,000 median selling price in Orange County was up 0.4% in February from $393,500 the month prior. Since February 2023, the sales price of single-family homes was down 2.5% from a median 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.
Condominiums and townhomes increased by 14.4% in sales price during February to a median of $349,000 from $305,000 in January. Compared to February 2023, the sales price of condominiums and townhomes was up 16.3% from $300,000. Seven​ condominiums 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 dropped by 6.5% since February 2023 from 321 to 300. All residential home sales totaled to $190.4 million.
In New York, homes sold at a median of $390,000 during February, down 0.2% from $390,816 in January. There were 7,516 recorded sales across the state during February, down 14.8% from 8,821 recorded sales in February 2023.
The total value of recorded residential home sales in New York decreased by 0.7% from $6.2 billion in January to $6.2 billion this February.
Out of all residential home sales in New York, 13.68% of homes sold for at least $1 million in February, up from 13.57% in February 2023.
Sales prices of single-family homes across New York decreased by 2.2% from a median of $344,461 in January to $336,967 in February. Since February 2023, the sales price of single-family homes across the state was down 20.3% from $423,000.
Across the state, the sales price of condominiums and townhomes rose 0.6% from a median of $506,766 in January to $510,000 during February. The median sales price of condominiums and townhomes is down 4.8% from the median of $535,666 in February 2023.
The median home sales price used in this report represents the midway point of all the houses or units listed over the given period of time. The median offers a more accurate view of what’s happening in a market than the average sales price, which would mean taking the sum of all sales prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high sale.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, 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 on Times Herald-Record: Homes in Orange County sold for higher prices recently: See how much here
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