Posted by Ricardo Jimenez at Feb. 16, 2017
Modesto Home Prices & Values
The median home value in Modesto is $248,700. Modesto home values have gone up 9.3% over the past year and Zillow predicts they will rise 4.5% within the next year. The median list price per square foot in Modesto is $170, which is lower than theModesto Metro average of $171. The median price of homes currently listed in Modesto is $269,900. The median rent price in Modesto is $1,295, which is the same as the Modesto Metro median of $1,295.
Foreclosures will be a factor impacting home values in the next several years. In Modesto 1.7 homes are foreclosed (per 10,000). This is greater than the Modesto Metro value of 1.5 and also greater than the national value of 0.9
Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Modesto is 0.0%, which is lower than the national value of 0.0%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Modesto homeowners underwater on their mortgage is 0.1%, which is higher than Modesto Metro at 0.1%.