Median Home Price in Orange County Hits Record High

SAN JUAN CAPISTRANO, CA - The median price for all homes sold in Orange County in October tied the all-time high of $655,000, according to latest figures from real estate data firm CoreLogic.

Sale prices jumped up $54,000 or 9 percent year-over-year from October 2015.

Total home sales in the month increased 9.7 percent to 3,118 transactions, the highest tally for an October since 2012, CoreLogic data shows.

Much of those gains were due to the spike in new-home sales where the median price of a newly built Orange County home hit a record $934,250 in October, according to CoreLogic.

Regionally the median price of a Southern California home was $465,000 in October, up 1.1 percent from $460,000 in September and up 6.9 percent from $435,000 in October 2015.

- City News Service contributed to this report