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.
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
$380,375
$243/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Merced have sold for 0.6% less than they did a year ago.
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
Key Takeaway
If you're buying a home in Merced, you may be able to get a good deal. 50.8% of homes here sold below asking price last month.
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
Key Takeaway
Many homes in Merced are selling fast, if you're buying plan to act quickly.
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.
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.