Is Mendocino, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Mendocino has remained a Buyer's Market.
Key Takeaway
Mendocino is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Mendocino, CA
How much do homes in Mendocino, CA cost?
Median Sold Price
$839,000
$504/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Mendocino have sold for 3.4% less than they did a year ago.
Summary: The median home sold price in Mendocino was $839,000 in March 2024, down 3.4% from last year, and the median price per square foot was $504.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $391K | $677.5K | +73.3% |
| 2 Bedrooms | $775K | $690K | -11.0% |
| 3 Bedrooms | $907.5K | $882K | -2.8% |
| 4 Bedrooms | $773.5K | $1.1M | +42.2% |
| 5+ Bedrooms | $2.1M | $1.5M | -25.6% |
Summary: Mendocino housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 73.3%, 2 bedroom homes decreased by 11%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes increased by 42.2%, and 5+ bedroom homes decreased by 25.6%.
Median Sold Price Compared To Nearby Cities
| Manchester | $819K | $825K | +0.7% |
| Mendocino | $868.5K | $839K | -3.4% |
Housing Supply in Mendocino, CA
How many homes are available in Mendocino, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 50 | 64 | +28.0% |
Summary: The Mendocino real estate market had 64 homes for sale in March 2024, a 28.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 22 | 29 | +31.8% |
| 3 Bedrooms | 20 | 21 | +5.0% |
| 4 Bedrooms | 5 | 8 | +60.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Mendocino housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 31.8%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 60%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 9 | +200.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Mendocino, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Mendocino in March 2024, up by 200.0% month-over-month. Of the 9 sold homes, 56% were sold under asking, 33% were sold at asking, and 11% were sold over asking.
Days on Market for Mendocino, CA
How long does it take to sell a home in Mendocino, CA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 71 Days | 76 Days | +6.5% |
Summary: Homes in Mendocino had an average of 76 days on market in Mar 2024, up by 6.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mendocino are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 9 homes were sold in Mendocino; 22% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.