April Home Sales Down, but Prices Are Up
April home sales in Orange County totaled 5,224 units, TRW Real Estate Information Services reported, down 45% from the 9,530 units sold in April, 1987.
Despite the drop in sales, the average price of a home rose 13.5% to $182,800 from $161,000 a year ago. That is because there are still few homes for sale and a relatively large number of buyers, experts said.
The figures include both new and used detached houses and condominiums. The numbers are obtained by surveying property records on file with the county.
April sales also declined from March, when 5,445 units were sold, TRW said. The average price in March was $182,200.
Experts say the county’s market for both new and used homes is still comparatively hot, with strong demand for all types of housing.
HOME PURCHASES IN ORANGE COUNTY
Month Total Residential Buying No. of Purchases (in millions) April 1987 $1,534 9,530 May 1987 1,172 7,560 June 1987 1,237 7,410 July 1987 1,035 6,512 August 1987 860 5,342 Sept. 1987 939 5,429 Oct. 1987 976 5,512 Nov. 1987 718 4,224 Dec. 1987 995 5,309 Jan. 1988 576 3,313 Feb. 1988 646 3,545 March 1988 992 5,445 April 1988 955 5,224
Source: TRW Real Estate Information Services
