The median home price in California dropped 40% in February from a year earlier, a real estate tracking firm has said.

MDA DataQuick also said that home sales in the state jumped nearly 43%.

The San Diego company said the median price was $224,000 last month, compared with $373,000 in February 2008.

Foreclosures accounted for 58% of home sales in California last month.

In Northern California, the median home price plunged 46% in February from a year earlier, dropping the figure to its lowest level since 1999, MDA DataQuick said.

Los Angeles Times