Home prices continued a downward trend in the Northern San Joaquin Valley in October over the previous year, but the latest real estate figures also showed a few positive signs.
Median home prices declined in Stanislaus, San Joaquin and Merced counties from October 2006 to last month. In Stanislaus, the median price dropped from $365,000 to $304,250, a decline of 16.6 percent. San Joaquin County prices, where the median was $340,000 last month, declined by 19 percent from $420,000 in 2006, and Merced County fell from $340,000 in October 2006 to $260,000 last month, a drop of 23.5 percent.
The number of sales also was down from a year ago in the three counties. Stanislaus was down by 41 percent, San Joaquin by 42.8 percent and Merced by 43.8 percent, according to DataQuick Information Systems, which tracks home sales and prices. But when compared with numbers from September 2007, activity was up in the three counties. Stanislaus, for example, had 408 sales in October, up from 372 in September. San Joa- quin sales grew from 502 in September to 551 in October. And while median prices declined from September to October 2007 in Merced and San Joaquin counties, they rose a bit in Stanislaus, from $300,000 to $304,250 in October.
In the nine-county Bay Area, sales fell last month to the lowest level for an October in 20 years. DataQuick said 5,486 homes were sold in October, down 35.7 percent from 8,532 in October 2006. But sales increased 9.4 percent from September.
The firm said the region's median price for the month climbed to $631,000, up 1 percent from September and 2.4 percent from October 2006.