In Lake Forest, CA year to date home sales are down 48.5% in June 2007 compared to June 2006, but the median home price skyrocketed to $647,500.
John Lansner correctly points out that while the total OC median home price is the same as this time last year at $640,000, it is impossible to discern whether actual home sale concessions in 2007 are up or down compared to last year's exchanges (concessions include paying out closing costs and buyer agent commissions, etc.).
It's now July. The summer home sales spectaculars must be in full swing.
Can OC Realtors now, after 6 shaky months, look at prospective buyers in the eye - in that oh so"special way" that a mere computer cannot- and still proclaim: "Hey, it' still a great time to buy"?