Orange County median home price at $727,000: 5 reasons it got there in August

Orange County home prices rose as sales counts dropped in August vs. a year earlier.

That’s according to the latest homebuying report from CoreLogic. Here are five trends you should know about the local market, data for the month compared to 12 months earlier and how those results looked vs. the six-county Southern California region …

1. All residences: $727,000 median, up 5.98 percent. SoCal? $535,000 median, up 7 percent. O.C. sales were 3,325 — off 10.93 percent. SoCal? 22,261 — off 8.1 percent.

2. Existing single-family homes: $780,000 median, up 4 percent. SoCal? $555,000 median, up 5.71 percent. O.C. sales were 2,011 — off 9.25 percent. SoCal? 15,449 — off 8.1 percent.

3. Existing condos: $512,500 median, up 7.89 percent. SoCal? $454,000 median, up 6.82 percent. O.C. sales were 905 — off 14.54 percent. SoCal? 4,891 — off 9.96 percent.

4. Newly constructed homes: $955,000 median, up 15.06 percent. SoCal? $600,000 median, up 6.15 percent. O.C. sales were 409 — up 10.7 percent. SoCal? 1,921 — off 3.03 percent.

5. Builders’ market share: 12.3 percent of all sales vs. 8.63 percent across Southern California.