O.C. Home Sales Dip in April; Prices Continue Their Climb

The number of homes sold in Orange County dropped in April, but prices continued to rise in what is traditionally a strong season for home sales.

The average price of a home hit $238,353 in April. That was up a robust 6% from March, when the price was $225,335, TRW Real Estate Market Information announced Wednesday.

TRW tracks the price of both new and used houses and condominiums.

April’s price was up 32% from the same month a year ago, when the average was $182,810.

Sales, however, plummeted compared to last year. In April, 3,693 condos and houses were sold, down 19% from March’s 4,583 and down 32% from the 5,420 sold in April, 1988.

Experts said the average price increased--despite slowing sales--because many of the most expensive homes in the county are still selling well, which raises the average.