Modesto-area home prices drop again, but not as steeply

Home sales prices continued to slip during March throughout the Northern San Joaquin Valley, but the drop wasn't nearly as step as in previous months.

Stanislaus County homes sold for a median $135,000 last month, down $1,250 from February, according to MDA DataQuick statistics.

Stanislaus prices have fallen nearly 66 percent since the December 2005 housing boom peak when homes went for a median $396,000. The housing market has been tumbling since, often by more than $10,000 per month. Stanislaus homes now are selling for about the same price as June 2000.

Merced and San Joaquin county housing markets also continue to suffer. Merced's median dropped to $105,000, down $500 from February. San Joaquin dropped to $154,000, off $1,000 from February.

By contrast, other Central Valley communities saw prices rise last month. Fresno County prices jumped $18,000, and Sacramento County prices rose $5,000.

Tuolumne County median home prices also increased in March, rising to $212,000. That's $12,000 more than February.