Coldwell Banker Gonella Realty’s Market Update said that according to the MCAR Multiple Listing Service, the median sales price for homes in the city of Merced from September 2009 to August 2010 was $111,112. The median sales price from September 2010 to August 2011 was $111,775 — an increase of 0.6 percent.
The blog said the increase was significant because it showed home prices aren’t declining.
When comparing the median prices of Merced County to Fresno, Kern and Sacramento counties year to year, the blog continued, Merced showed an increase of 3.9 percent, while the other three counties showed decreases.
“We believe this shows that since we were the first to head lower that maybe we will be the first to recover,” the blog said.
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Median prices from 1989 through 2001 were $105,000 to $110,000. In 2001, prices started accelerating and peaked in 2005 at about $350,000. Since then prices have returned to a level comparable to the 1990s, the blog said.