After 17 straight months of relentless home value declines, Stanislaus County’s median home sales price edged up in May to $135,000. That was $2,000 more than April.
The boost is better than nothing, and with luck it signals the end of the freefall that has plagued the region’s real estate market since the building boom burst 3½ years ago.
The MDA DataQuick statistics tracked home prices as they soared for six years before peaking at a median sales price of $396,000 in December 2005. It’s been virtually all downhill since then, as Stanislaus’ home prices have plunged 66 percent. Homes now are selling for about what they were nine years ago before the run up began.
Most of California coastal counties began seeing home price jumps earlier this spring, and they continued to rise in May. Bay Area prices, for instance, rose 12.3 percent from April to May.
Recovery is taking longer for the inland counties.
San Joaquin County’s median price did increase in May to $152,000, up $6,500. But Merced County prices dropped again to $105,000, down $1,000. Tuolumne County also dropped to $215,000, down $15,000.