The first time Stanislaus County’s median home price hit $200,000 was August 2002, and the real estate market was on fire. Prices continued soaring month after month for more than three years.
The second time Stanislaus’ median home price hit $200,000 was June 2008, and the market was in free fall. Prices kept plunging for another year.
Perhaps the third time’s the charm, because the county’s median home sales price hit $200,00 in March, according to just-released DataQuick housing records.
That’s an impressive 25 percent increase from March 2013, when houses were going for only $160,000. It also was a $7,250 increase from February, showing how the market continues to gain momentum.
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Stanislaus home prices bottomed out in February 2011, hitting $125,000. That was a far cry from the December 2005 market peak, when houses sold for a median $396,000.
After bouncing around near the bottom for two years, the county’s real estate market began gaining ground a year ago.
Home prices throughout the state also are soaring, according to DataQuick’s research.
California’s median home price in March was $376,000, up 20.1 percent.
In San Joaquin County, the median price was $249,500, up 24.1 percent.
In Tuolumne County, it was $195,000, up 25.8 percent.
Median prices in the nine-county Bay Area hit $579,000 last month, up 23.2 percent.
The highest-priced homes in the state continue to be in San Francisco, where the median price reached $937,500 in March.