Is Merced, 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, Merced has remained a Seller's Market.
Housing Prices in Merced, CA
How much do homes in Merced, CA cost?
Median Sold Price
$380,375
$243/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Merced was $380,375 in March 2024, down 0.6% from last year, and the median price per square foot was $243.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $220K | $170K | -22.7% |
2 Bedrooms | $273.5K | $290K | +6.0% |
3 Bedrooms | $370K | $357.5K | -3.4% |
4 Bedrooms | $425K | $429K | +0.9% |
5+ Bedrooms | $502.5K | $495K | -1.5% |
Summary: Merced housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.7%, 2 bedroom homes increased by 6%, 3 bedroom homes decreased by 3.4%, 4 bedroom homes increased by 0.9%, and 5+ bedroom homes decreased by 1.5%.
Housing Supply in Merced, CA
How many homes are available in Merced, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
231 | 220 | -4.8% |
Summary: The Merced real estate market had 220 homes for sale in March 2024, a 4.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 23 | 21 | -8.7% |
3 Bedrooms | 107 | 106 | -0.9% |
4 Bedrooms | 79 | 69 | -12.7% |
5+ Bedrooms | 22 | 23 | +4.5% |
Summary: The Merced 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 decreased by 8.7%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes decreased by 12.7%, and 5+ bedroom homes increased by 4.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
58 | 65 | +12.1% |
Asking Price vs. Sold Price
33 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Summary: A total of 65 homes were sold or pending in Merced in March 2024, up by 12.1% month-over-month. Of the 65 sold homes, 51% were sold under asking, 14% were sold at asking, and 35% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
49 Days | 37 Days | -23.4% |
Summary: Homes in Merced had an average of 37 days on market in Mar 2024, down by 23.4% compared to last year.
Breakdown of Home Sale Times
44 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During March 2024, 65 homes were sold in Merced; 68% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.