The median paid in the nine-county region declined to $350,000 from $383,000 in October 2010, according to the San Diego-based research firm. Prices dropped 4.1 percent from $365,000 in September. The decrease was largely due to the expiration of so-called conforming loan limits on Oct. 1, DataQuick President John Walsh said in a statement.

“This may well be a short-term pause while the market recalibrates changes in loan thresholds,” he said.

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Nearly a quarter (24.6 percent) of homes in the nine-county area were underwater in the three months ended in September, Zillow said. That compares with 22.8 percent in the preceding quarter.

Several reasons underlie the declines: the end of the spring/summer peak home-buying season, continued malaise after last year’s expiration of home buyer tax credits, lack of consumer confidence.

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