August continued the relentless pounding of the South Bay's housing market as prices dropped by double digits in most areas cited in a report released Thursday.
The South Bay as a whole saw its median price drop 25 percent in August, to $540,000, compared to the same month a year ago, according to a report by the Los Angeles-based California Association of Realtors.
The median price refers to the middle figure where half of homes sold for more and half for less.
The South Bay's beach cities, which have avoided much of the subprime loans problems affecting less pricey areas, saw a drop of 23.9 percent, to $875,000, the report says.
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