Is Merced, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Merced is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Merced has remained a Seller's Market.

Key Takeaway

Merced is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Merced, CA

How much do homes in Merced, CA cost?

Median Sold Price

$385,000

$245/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$3,980(+1.0%)

Key Takeaway

Homes in Merced have sold for 1% more than they did a year ago.

Summary: The median home sold price in Merced was $385,000 in May 2024, up 1% from last year, and the median price per square foot was $245.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $220K$170K
-22.7%
2 $270.2K$295K
+9.2%
3 $360K$365K
+1.4%
4 $422.5K$434.7K
+2.9%
5+ $497.5K$510K
+2.5%

Summary: Merced housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.7%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 2.5%.

Housing Supply in Merced, CA

How many homes are available in Merced, CA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
247238-3.6%

Summary: The Merced real estate market had 238 homes for sale in May 2024, a 3.6% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 23
+50.0%
2 2018
-10.0%
3 116110
-5.2%
4 7675
-1.3%
5+ 3332
-3.0%

Summary: The Merced housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 10%, 3 bedroom homes decreased by 5.2%, 4 bedroom homes decreased by 1.3%, and 5+ bedroom homes decreased by 3%.

Number of Homes Sold

Apr 2024May 2024CHANGE
6665-1.5%

Asking Price vs. Sold Price

28 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

26 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Merced, you may be able to get a good deal. 43.8% of homes here sold below asking price last month.

Summary: A total of 65 homes were sold or pending in Merced in May 2024, down by 1.5% month-over-month. Of the 64 sold homes, 44% were sold under asking, 16% were sold at asking, and 41% were sold over asking.

Days on Market for Merced, CA

How long does it take to sell a home in Merced, CA?

Average Sale Time

May 2023May 2024CHANGE
46 Days33 Days-26.6%

Summary: Homes in Merced had an average of 33 days on market in May 2024, down by 26.6% compared to last year.

Breakdown of Home Sale Times

45 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Merced are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 65 homes were sold in Merced; 69% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 19 Days Ago

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