The East Bluff housing market

The East Bluff housing market, a subsidiary of the much larger Orange County real estate market, showed signs of strength despite a slight month-over-month decline in median price. According to May 24, 2010 article from the OC Metro, “Orange County’s median home price popped 13.7 percent in April, compared to the same time last year, according to a new report from the California Association of Realtors. The number rose to $491,120, up from $432,110 in the same month last year.” The piece, written by Kristen Schott, continued to say that “However, the median fell 0.4 percent from March, when the number hit $493,120. Statewide, C.A.R., which bases its figures on Multiple Listing Service data, is reporting that the median home price rose 21 percent to $306,230 compared to the same time last year. The number was $253,110 in 2009. The price also increased 1.5 percent from March.”

The average cost of an East Bluff real estate, compounded with other Orange County communities, saw a slight dip in the month of April. According to a May 18, 2010 article from the Orange County Business Journal, “Orange County’s median home price edged down $2,000 in April from March, but still stands $50,000 higher than the prices seen here a year ago. The median price of a home sold here in April was $430,000, a less than 1% drop from a month earlier, according to San Diego-based MDA DataQuick, a unit of Canada’s MacDonald Dettwiler and Associates.” The piece by Mark Mueller went on to note that “Median home prices are now about 13% higher than they were a year ago, but still are off nearly 33% from their highest level, seen in mid-2007.”

Despite this slight decline in median price, the East Bluff and Orange County real estate markets were still much stronger than surrounding counties. According to a May 18, 2010 article from OCLNN, “Orange County saw stronger gains in home sales and price compared to all other Southern California counties during April. The median home price in Orange County jumped 13.2 percent since April 2009, to $430,000…”