One out of every seven homes for sale in Manteca have asking prices $800,000 and above. 

The vast majority of the 61 homes in the $800,000 plus range are in new neighborhoods in southwest Manteca including model homes being sold, new homes finished and ready to move in, and resale homes,

All but one of the 61 homes are south of the 120 Bypass. The one exception is a custom home listed for sale in the Terracina gated community off of Northgate Drive in northwest Manteca.

The inventory above $800,000 is in addition to steady sales in the same price range by new home builders.

The fact the majority of builders in Manteca have no qualms building ahead of the market — starting and constructing homes before a sales contract is signed — has changed the dynamics during the past two years.

The resale market in the same price range has lost somewhat of an edge as it means buyers can move into a newly constructed home as quickly as they could into a comparable resale home.

During previous periods of strong demand, buyers that wanted a home that was brand new had to wait four to six months after they signed a sales contract to move in.

That is no longer the case.

The builders that typically build ahead of the market are national or major regional builders.

The $800,000 plus resale market is still seeing sales.

The priciest Manteca home currently pending — excluding two country estates with acreage with accepted offers of $1,899,000 (a 2,570-square-foot home on 4.76 acres on Peach Avenue) and $1,199,888 (a 1,347 square-foot home on 8.46 acres on Highway 99 East Frontage Road) —  is a resale tract home.

It is in the gated Oakwood Shores community with manmade lakes.

The three bedroom, 2.5 bathroom home in the 8000 block of Chivari Wy with 2,732 square feet of living space on an 8,751 square foot lot has a pending offering of $1,049,000.

That contrasts with the least expensive traditional single family free standing home with a standard foundation now in escrow in Manteca.

The home with 3 bedrooms and two bathrooms with 1,205 square feet is located in the 100 block of Birchwood Street.

It has an accepted offer of $395,000.

Altogether as of Monday, there were 449 homes, condos, mobile homes, and vacant property listed for sale in Manteca.

Prices up almost

80% in 10 years

Data, based on closed escrows, shows the median home price in Manteca has increased almost 80 percent based on December transactions.

The median in December 2015 was $315,994. The median in December 2024 was $567,000.

On the resale market, there were 71 homes that sold in December 2024.

The top of the market was a four bedroom, 3.5 bathroom home with 2,896 square feet that was built in 2019 on a 9,740 square-foot lot in the 1300 block of Mono Way in southeast Manteca. 

The one-story home closed escrow at $1,070,000. It had two offers.

The least expensive home sold in December was an 896 square foot condo in the 1400 block of Pajaro Avenue that closed escrow at $255,000.

Next was a 984-square-foot fixer upper built in 1974 on Sapphire Court that sold for $270,000, some $185,000 less than the listing price.

In terms of a home that was in move-in condition and was free-standing, the lowest priced home was a two bedroom, one bathroom home with 728 square feet of living space built in 1948 in the 300 block of North Maple Ave.

It had a listing price of $319,900. It sold for $335,000 after receiving nine offers.

To contact Dennis Wyatt, email dwyatt@mantecabulletin.com