NorCal median home price plunges

February 19, 2009 10:23:26 AM PST
A tracking firm says the median home price in Northern California dropped nearly 46 percent in January from a year ago.SIGN-UP: Get breaking news sent to you

MDA DataQuick also says in a report released Thursday that home sales rose nearly 41 percent as buyers snapped up low-cost foreclosures.

DataQuick says the median home price in a nine-county region of Northern California was $300,000 last month, compared to $550,000 in January of 2008. The median price for the area peaked at $665,000 in mid-2007.

Foreclosures accounted for 54 percent of January sales in Northern California.

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