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OC Real Estate News: Median Home Price Hits Post Recession High

According to a recent article in the Orange County Register, OC real estate has hit a post-recession high with a median home price of $570,000 in mid-December. It was the highest median price — that is, the middle price of all single family home sales — not only for all of 2013, but also the highest median price since December of 2007.

December is often the month of the year with the highest median price, having been so in eight of the past 26 years. It is also the month with the highest new home sales — 17 out of the past 26 years — as home builders push to wrap up deals before the end of the year, the article stated.

With the price of homes rising, Brandywine remains committed to providing new and affordable homes to residents of Orange County. One such project is a 5.1 acre urban infill community in the heart of Yorba Linda. The community, which will consist of 51 townhomes, will offer larger, attached spaces for a more affordable price than detached homes on the city’s outskirts, particularly considering the lower taxes due to it being an infill development rather than new infrastructure. The Yorba Linda project has an anticipated completion time of Spring 2015.

Another Brandywine Homes project aimed toward providing affordable housing is a 34-unit rental community in Garden Grove that opened in January. With a healthy job growth in the area and the population continuing to increase, Brandywine Homes is pleased to provide new homes and rental homes for a number of Orange County Communities.

For more information on the new, single-family homes that are being offered by Brandywine Homes as well as the affordable rental options that Brandywine Homes has available, contact us.