MANTECA (CBS13) – Million-dollar homes are flying off the market in Manteca.
A four-bedroom, three-bathroom tract home in Manteca's Fox Chase neighborhood just sold for $920,000. Local realtors think the property on Veteran Street is not an outlier and believe nearby big homes could sell for the same price.
Experts said it's part of the ongoing real estate boom that's seeing more buyers willing to pay luxury prices.
"We were done. We were just burned out and done," said Benjamin Sanchez Jr., a neighbor.
Benjamin and his wife Debra know what it's like to live in the hustle and bustle of the Bay Area. They said that's why they left and came to Manteca.
"I love the lifestyle, it's very slow and mellow. Everybody is so friendly," Debra said.
"We picked this spot because it was the center," Benjamin said.
Lots of other families are making the same decision. Manteca is closer to the Bay Area than other cities like Stockton and Ripon.
"Million-dollar sales really vary, and a lot of it comes down to location," said Ryan Lundquist with Lundquist Appraisal Company.
Lundquist said the housing market, in general, is seeing more buyers willing to pay top prices. Over the last year in Sacramento, he said there's been a 147% increase in the number of million-dollar homes sold.
"There's a lot of pent-up demand where people are making decisions in light of the pandemic and COVID," Lundquist said.
Working from home has made people more willing to invest in their homes, especially when the location meets their needs.
"People are coming here. They're coming here for relaxation and the quiet life but we still like our stuff, our comfort," Benjamin Sanchez Jr said.
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