'Prices are Dropping Every Day, and They're Not Little Any More'

The Sacramento Bee has September's DataQuick numbers:

Home slump deepens
All eight area counties report fewer sales with lower median prices.

"Prices are dropping every day, and they're not little any more," said Mike Toste, a Coldwell Banker real estate agent in Antelope...While worrisome for sellers, the downward trend is heartening for buyers. Many in the real estate industry have tried to pry them off the sidelines by citing low interest rates, an abundance of home builder financial incentives and a record inventory of houses for sale...

"We can see the prices coming down," said Diana Wallace, a Sacramento resident who hopes to buy houses to rent out for retirement income. "I feel sorry for these people. But I want a deal. I want to get the best value I can. "But I hope they don't drop too much because I have a home myself..."

Single-family detached homes in the region's four most populated counties are well below their 2005 peaks, according to DataQuick:

• El Dorado County's September median of $434,000 compares with a September 2005 high of $475,000.

• Placer County's $454,000 median sales price compares with an August 2005 peak of $502,000.

• Sacramento County's $350,000 median price in September is off its August 2005 peak of $372,000.

• Yolo County's $411,000 median is below its November 2005 peak of $436,500...
  

DataQuick reported sales of 3,558 homes and condos during September in the eight-county region. That was 234 fewer sales than August -- and 2,328 fewer than September 2005.