Orinda Home Sales Prices Jump In January 2011

Orinda’s median sold home price jumped to $1.4 million, an 87% increase over December’s figure of $750,000. It appears deeper pocket buyers are deciding it is time to jump in and take advantage of the discounted property prices. Overall sales and inventory remained flat.The median price of listed properties rose slightly as usually occurs in the new year when homeowners list or re-list higher-end properties. Price per square foot on sold properties rose slightly due to the fact higher-end properties sold. The number of new listings declined slightly but it is in line with the prior year.