O.C. Median Home Price Sets Record

The median price of new homes sold in Orange County during October set an all-time monthly high, while sales of all homes continued to speed ahead from year-ago levels.

The October median sales price for new homes increased 16.1% from the same month last year to $539,500, according to a report by DataQuick Information Systems Inc. The median sales price for all homes was $369,000, up 19% from last year.

Sales for the month reached 4,267 homes, a 9.2% increase over last year and the highest for any October since 1988.

With the exception of August, Orange County home sales have posted year-over-year gains every month in 2002. During the first 10 months of the year, home sales rose 12.5% from the same period last year to 43,729 properties, according to DataQuick.