Is Mendocino County, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Mendocino County was a Seller's Market.
Key Takeaway
Mendocino County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Mendocino County, CA
How much do homes in Mendocino County, CA cost?
Median Sold Price
$533,145
$345/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mendocino County have sold for 1.3% less than they did a year ago.
Summary: The median home sold price in Mendocino County was $533,145 in May 2024, down 1.3% from last year, and the median price per square foot was $345.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $405K | $325K | -19.8% |
| 2 Bedrooms | $535K | $500K | -6.5% |
| 3 Bedrooms | $534.7K | $528.2K | -1.2% |
| 4 Bedrooms | $600K | $660K | +10.0% |
| 5+ Bedrooms | $906K | $980K | +8.2% |
Summary: Mendocino County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 19.8%, 2 bedroom homes decreased by 6.5%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 8.2%.
Median Sold Price Compared To Nearby Counties
| Glenn County | $335K | $349K | +4.2% |
| Tehama County | $314.9K | $326K | +3.5% |
| Sonoma County | $788.3K | $799.9K | +1.5% |
| Mendocino County | $540.3K | $533.1K | -1.3% |
| Lake County | $349.7K | $330K | -5.7% |
Housing Supply in Mendocino County, CA
How many homes are available in Mendocino County, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 390 | 443 | +13.6% |
Summary: The Mendocino County real estate market had 443 homes for sale in May 2024, a 13.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 32 | 42 | +31.3% |
| 2 Bedrooms | 104 | 111 | +6.7% |
| 3 Bedrooms | 190 | 210 | +10.5% |
| 4 Bedrooms | 50 | 63 | +26.0% |
| 5+ Bedrooms | 14 | 17 | +21.4% |
Summary: The Mendocino County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 31.3%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 26%, and 5+ bedroom homes increased by 21.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 59 | 49 | -16.9% |
Asking Price vs. Sold Price
33 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mendocino County, you may be able to get a good deal. 68.8% of homes here sold below asking price last month.
Summary: A total of 49 homes were sold or pending in Mendocino County in May 2024, down by 16.9% month-over-month. Of the 48 sold homes, 69% were sold under asking, 13% were sold at asking, and 19% were sold over asking.
Days on Market for Mendocino County, CA
How long does it take to sell a home in Mendocino County, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 115 Days | 52 Days | -54.2% |
Summary: Homes in Mendocino County had an average of 52 days on market in May 2024, down by 54.2% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mendocino County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 49 homes were sold in Mendocino County; 18% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
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