Foreclosures have been popping up lately in Manteca.

But unlike 15 years ago when the foreclosures were in every price range, the recent ones have been at the bottom of the market.

The foreclosures aren’t serving as the proverbial canary in the mine for the Manteca housing market.

The reasons are simple:

*The $800,000 plus market is still going strong with 17 agent listings going pending in May.

*There were 48 resale homes that closed escrow in Manteca. Of those, 25 had multiple offers.

*The median closed sales price in May was $645,000, up $26,995 from April and $65,000 from a year ago.

The most expensive home sold was at 3792 Castellina Way in the Oakwood Shores gated community,

The 3,284 square foot home with 4 bedrooms and 3.5 bathrooms built in 2012 closed at $1,150,000. That was $25,000 above the asking price.

Altogether there were three resale homes — including one built in 2009 — in the gated lakeside community on the western end of Woodward Avenue that sold for more than $1 million.

Four additional homes closed escrow for more than $800,000.

At the other end of the spectrum, the lowest priced free-standing detached home to sell in May was a 2 bedroom, 1 bathroom home with 820 square feet built in 1953.

The home at 212 N. Veach Ave, closed escrow for $390,000, some $11,000 above the asking price.

May’s hottest property — based on  the numbers of offers — was 1193 Williams Court off of Union Road south of Mission Ridge Drive.
It had nine offers.

Listed at $495,000, the three bedroom and two bathroom home of 1,450 square feet built in 1994 on an oversized lot closed escrow at $540,000.

It was just outside of the $550,000 to $749,999 range that 27 of the 48 homes sold in May fell.

The two foreclosures are in central Manteca.

*A two bedroom, one bathroom 826 square foot flattop house at 417 Acacia Ave. that was built in 1964. The asking price is $323,867.

*A two bedroom, one bathroom 728 square foot house at 785 East Willow Ave. that was built in 1934.

The asking price is $362,600.

There are currently 17 resale homes listed in Manteca for $800,000 plus.

The highest price is in southwest Manteca in the 3400 block of Rywood Place. It is listed for $1,019,000 and includes six bedrooms and four bathrooms in 3,722 square feet.

The second highest is on the 1500 block of Crom Street facing the golf course.

It has four bedrooms and three bathrooms in 3,405 square feet with an asking price of $965,000.

To contact Denis Wyatt, email dwuatt@mantecabulletin.com