Home prices fall to '04 level

The housing market is bad throughout California, but apparently it's worst in Stanislaus County.

Stanislaus' median home sales price plunged 23 percent this November compared with last November, according to DataQuick Information Systems. That was the steepest decline in California, at least among the counties with large populations.

Statewide, home prices fell about 12 percent to a median $414,000.

Homes in Stanislaus sold for a median $285,000 last month, which was about what they were going for in August 2004. Median prices peaked at $396,000 in December 2005, but they've been declining since.

So has sales volume.

Only 392 homes sold throughout Stanislaus last month, 40 percent fewer than during November 2006. There also were more properties lost to foreclosure -- 419 -- than were sold by traditional means last month.

The news isn't much better in San Joaquin and Merced counties.

San Joaquin median sales prices dropped to $329,500 in November from a year ago, a 21.7 percent decline. Sales volume was down 34 percent.

Merced's median sales price was $274,000 in November, which was down 16.8 percent compared with the previous year. Prices were even lower in October this year, however, when they hit $260,000. Sales volume was down 31.9 percent this November compared to last.

Statewide during November, 25,578 homes sold, including new and resale houses and condos. That was down 38.8 percent from November 2006. There were fewer sales this year than during any November since at least 1988, which is as far back as DataQuick's records go.

But the real estate market isn't dismal everywhere in California. November's median home sales price in San Francisco rose 7.2 percent to $814,750. Santa Clara, San Mateo and Marin counties also saw prices rise.

Bee staff writer J.N. Sbranti can be reached at jnsbranti@modbee.com or 578-2196.