Is Mendocino, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Mendocino has remained a Buyer's Market.
Housing Prices in Mendocino, CA
How much do homes in Mendocino, CA cost?
Median Sold Price
$810,000
$498/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Mendocino was $810,000 in May 2024, down 7.4% from last year, and the median price per square foot was $498.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $391K | $677.5K | +73.3% |
2 Bedrooms | $825K | $717.5K | -13.0% |
3 Bedrooms | $887.5K | $850K | -4.2% |
4 Bedrooms | $836.7K | $1.5M | +85.8% |
5+ Bedrooms | $2.1M | $1.5M | -25.6% |
Summary: Mendocino housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 73.3%, 2 bedroom homes decreased by 13%, 3 bedroom homes decreased by 4.2%, 4 bedroom homes increased by 85.8%, and 5+ bedroom homes decreased by 25.6%.
Housing Supply in Mendocino, CA
How many homes are available in Mendocino, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
72 | 85 | +18.1% |
Summary: The Mendocino real estate market had 85 homes for sale in May 2024, a 18.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 6 | +50.0% |
2 Bedrooms | 28 | 24 | -14.3% |
3 Bedrooms | 30 | 40 | +33.3% |
4 Bedrooms | 7 | 10 | +42.9% |
5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The Mendocino 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 14.3%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
12 | 8 | -33.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Mendocino in May 2024, down by 33.3% month-over-month. Of the 7 sold homes, 71% were sold under asking, 0% were sold at asking, and 29% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
86 Days | 42 Days | -51.3% |
Summary: Homes in Mendocino had an average of 42 days on market in May 2024, down by 51.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 8 homes were sold in Mendocino; 38% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.