Is Merced, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$385,000
$244/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Merced was $385,000 in April 2024, up 0.5% from last year, and the median price per square foot was $244.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $255.5K | $170K | -33.5% |
2 Bedrooms | $275K | $292.5K | +6.4% |
3 Bedrooms | $363.6K | $360K | -1.0% |
4 Bedrooms | $425K | $430.5K | +1.3% |
5+ Bedrooms | $500K | $500K | 0.0% |
Summary: Merced housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 33.5%, 2 bedroom homes increased by 6.4%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes did not change.
Housing Supply in Merced, CA
How many homes are available in Merced, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
236 | 254 | +7.6% |
Summary: The Merced real estate market had 254 homes for sale in April 2024, a 7.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 24 | 23 | -4.2% |
3 Bedrooms | 109 | 121 | +11.0% |
4 Bedrooms | 76 | 78 | +2.6% |
5+ Bedrooms | 26 | 30 | +15.4% |
Summary: The Merced housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 4.2%, 3 bedroom homes increased by 11%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 15.4%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
68 | 65 | -4.4% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Summary: A total of 65 homes were sold or pending in Merced in April 2024, down by 4.4% month-over-month. Of the 65 sold homes, 42% were sold under asking, 31% were sold at asking, and 28% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
48 Days | 37 Days | -22.9% |
Summary: Homes in Merced had an average of 37 days on market in Apr 2024, down by 22.9% compared to last year.
Breakdown of Home Sale Times
40 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During April 2024, 65 homes were sold in Merced; 62% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.