Those that bought homes built between 2015 and 2017 in neighborhoods in southeast Manteca are selling them today earning 40 percent to 80 percent above their original purchase price.

The latest examples are four homes that have just gone pending in newer neighborhoods south of Woodward Avenue and east of Main Street. They have accepted offers ranging from $935,000 and $999,000.

It underscores that a pair of sales on Veteran Street that closed escrow for just a few dollars less than $1 million a few months ago as well as Manteca’s record setting $1.2 million tract homes resale that is nearby were not flukes.

The area thanks to homes that are less than six years old with most — and often times more — amenities than new homes being built are in high demand with Bay Area buyers are receiving stratospheric offers for their even older homes for several reasons:

*they do not have to wait six months or so for a new home to be built.

*given they are established areas they offer a “good read” of the neighborhood they are moving into.

*resales homes have upgrades and touches such as window treatment and full landscaping.

*the floor plans and somewhat larger lots have high appeal for people seeking to move to an area where they can raise families.

In interviews with several real estate agents that have handled transactions in the area and elsewhere in Manteca, buyers are paying top dollar for homes in the Family City for the same reasons why they are doing so in Tracy, Lathrop, and Mountain House.

*Thanks to the sale proceeds from homes in the Bay Area they are able to make down payments between 40 and 60 percent that — coupled with today’s low interest rates — makes a $900,000 price affordable for them.

*A change in work patterns that allow for more telecommuting.

*Close access to Altamont Corridor Express service for when they do have to physically commute to jobs in the Silicon Valley. Rail commuting is cited as a way to reduce stress, reduce commute costs, and afford more family time.

*Community amenities such as parks geared toward youth recreation, solid schools, medical care, and central proximity to the Sierra as well as the Bay Area.

The four latest homes to go pending in the southeast neighborhoods are:

*883 Storybrook Street with four bedrooms, 3.5 bathrooms, 3,743 square feet and 0.26 acre lot built and sold in 2015 for $524,000. The pending offer is $975,000. That in excess of an 80 percent price gain in six years.

*2506 Taft Avenue with four bedrooms, 2.5 bathrooms, 3,601 square feet and 0.33 acre lot built and sold in 2018 for $588,000. The pending offer is $999,000. That’s a price gain of 70 percent plus in three years.

*2236 Stephen Robert Lane with five bedrooms, 4.5 bathrooms. 3,789 square feet, and a 6,930 square-foot lot built and sold in 2017 for $529,000. The pending offer is $935,000. That’s a price gain of roughly 75 percent in four years.

*2394 Veramonte Avenue with four bedrooms, 3.5 bathrooms, 3,068 square feet on a 0.23 acre lot built in 2017 for $690,000. The pending offer is $950,000.  That’s a price gain of just less than 40 percent in four years.

To contact Dennis Wyatt, email dwyatt@mantecabulletin.com