Welcome to today’s Manteca housing where it is cooler but far from lethargic

*You can actually buy new housing for under $90,000 in Manteca.

*The $1 million plus market in Manteca has definitely cooled — even in Oakwood Shores.

*But the $1.1 million plus new home sales at River Islands at Lathrop are still moving along although at a slower pace.

*New home builders are offering homes with base prices ranging from $547,000 to $770,000.

*There are three homes in foreclosure with more than 90 that are at least 90 days behind in payments and are considered in pre-foreclosure.
*Meanwhile, 58 resales closed escrow in January with the bulk of the homes sales in the $450,000 to $550,000 range. Early data indicates February was almost a carbon copy.

*And while year-to year values are down between 2 and 5 percent, there’s still plenty of example of sellers making significant gains from when they initially purchased a home including one Manteca homeowner who has secured a sale 280 percent higher than what they originally paid.

About that 280%

increase in value

Year-to-year values of existing homes based on closed sales may be down slightly but unless you are selling after owning a home for less than two years you are extremely likely to see an increase in value that beats inflation.

Location, location, location may be the gospel in real estate circles for determining value in the eyes of the seller, timing of when one buys and sells – which is far from being something that is easily maximized by intentional targeting thanks to endless variables — is what impacts long-term gains.

It also helps that you have a somewhat unique property.

Such is the case in the 1500 block of Sand Lane immediately east of Veritas School and across from the Promenade Shops at Orchard Valley.

Not only does it have close proximity to a school, walking access to dining and the movies, and Sutter Health medical offices just down the street but it is also on an oversized parcel surrounded by tract homes.

Built in 1987 on 0.72 aces, the four bedroom, two bathroom 2,019 square-foot home sold for $250,000 in 2008.

The year 2008, as any longtime battle scared real estate agent will recall, is when the deep thaw started after the mortgage meltdown went into overdrive and housing sales froze. It wasn’t the bottom of the market, but prices had skidded to the point where median wage earners east of the Altamont Pass could buy most homes for sale in Manteca.

That is when the Sand Lane home last sold.

Today, 18 years later, it has a pending offer for $950,000 for a 280 percent increase.

Even homes that sold in 2015 after the recovery was well underway, are still doing well when the final escrow papers are sold.

An example is a home in the 2300 block of Beardsley Avenue southeast of Woodward School.

The six bedroom, four bathroom home with 3,439 square feet on an 8,346 square-foot lot sold for $450,000 in 2015.

It is now in escrow for $909,000, representing a 102 percent gain in value.

And go father back, and even homes built in the 1970s do extremely well.

The best current example is the home in the 1100 block of Lorene Lane to the east of Trailwood and west of Crestwood.

The three bedroom, 1.5 bathroom home with 1,069 square feet on a 5,101 square-foot lot built in 1979 last sold for $90,000 in January 1995.

 Today, it is in escrow for $430,000 for a 377 percent increase in value.

Almost as robust of a gain is a two-story 1,292 square-foot hone with two bedrooms and two bathrooms on a 3,584 square-foot lot on the 400 block of Golf Circle West in the Golf Villas.

It was built and sold in 1988 for $78,000. It last sold for $317,500 in June 2006 just as the pre-mortgage meltdown market peaked.

It is now in escrow for $339,900.

About that new Manteca

home for under $90,000

You can buy a new manufactured home with 385 square feet featuring one bedroom and one bathroom for $89,900 at the newer version of the Sleepy Hollow Mobile Home Park at 317 Moffat Blvd. across from Manteca High.

The housing unit was placed in Space 14 in December 2025 with an asking price of $119,950.

It is now available for $89,950.

To contact Dennis Wyatt, email dwyatt@mantecabulletin.com