Home prices jumped $6,000 in Stanislaus County last month

jnsbranti@modbee.comSeptember 16, 2013 

— Stanislaus County home prices continued soaring in August, jumping $6,000 during the month. The median-priced home sold for $186,000, which was $46,000 above what houses were going for a year ago.

That 33percent price boost is among the highest in California, according to the real estate analysis firm DataQuick.

San Joaquin County prices are rising even faster. The median-priced home there sold for $233,000 last month, up more than 41percent since August 2012.

While California’s real estate market is recovering from the foreclosure crisis and the Great Recession, not all communities are faring equally.

For example, median prices in Tuolumne County’s seat, Sonora, fell to $186,500, a nearly 5percent drop compared with a year ago.

Lagging behind in Stanislaus County is Newman, where homes sold for $132,500 last month. That was just 1.5percent more than last year.

Riverbank home prices, however, skyrocketed to $240,000, a 60percent increase. Riverbank homes last month sold for more than those in Modesto, Oakdale, Patterson, Waterford and Ceres. Only Denair and Hughson homes garnered higher prices in the county.

Ripon homes, which once regularly sold for more than about anywhere else in the region, aren’t fetching top dollar anymore. The median-priced Ripon home last month went for $294,750, which was only about 18percent above August 2012.

Surpassing that price point were homes in southern Manteca – those in the 95337 ZIP code – which sold for a median $329,500. That was up 56percent in one year.

Homes throughout the Northern San Joaquin Valley continue to be bargains compared with those elsewhere in California.

The statewide median home price last month was $361,000, which was up 28.5percent from August 2012.

For truly pricey homes, look to San Francisco, where the median home sold for $825,000 last month. San Francisco buyers instead could have purchased six houses in Newman, with money to spare.

Bee staff writer J.N. Sbranti can be reached at jnsbranti@modbee.com or (209)578-2196.

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