The highlights from the November 2024 Fresno and Clovis Markets are below.
- Median Sold price was UP from October 2024:
- November 2024 $437,000.00
- October 2024 $400,000.00
- 409 homes sold:
- 14.57% MORE homes sold November of 2024 than in November of 2023 (357 homes sold November of 2023 versus 409 homes sold November of 2024 that is 52 MORE homes)
- 6.19% FEWER homes sold November of 2024 than October of 2024 (409 homes sold November of 2024 versus 436 homes sold in October of 2024)
- Average Days on Market:
- Average Days on Market for homes that sold in November 2024 was 29 days.
- This is FEWER than October 2024. DOM for October 2024 was 30 days.
- For homes with no price changes the Average Days on Market is 15 days.
- Sales Price versus Offer Price was 99.8%
- For homes with 1+ price changes the Average Days on Market is 56 days
- Sales Price versus Offer Price was 93.3%
- Median For Sale Price $435,000.00 versus Sold Price of $437,000.00
- TWO (2) bank owned properties sold:
- Other Real Estate Owned (OREO) sales were FLAT from September.
- 410 homes went under contract.
- 459 New Properties were listed for sale.
- Months’ Supply Inventory of 2.3 months.
- 2024 Inventory levels:
- January MSI - 1.9 Locally versus The National Association of REALTORS®️ 2.6
- February MSI - 2.1 Locally The National Association of REALTORS®️ 2.2
- March MSI - 1.8 Locally The National Association of REALTORS®️ 1.8
- April MSI - 2.0 Locally The National Association of REALTORS®️ 2.0
- May MSI - 2.0 Locally The National Association of REALTORS®️ 2.2
- June MSI - 2.4 Locally The National Association of REALTORS®️ 2.1
- July MSI - 2.1 Locally The National Association of REALTORS®️ 2.0
- August MSI 2.1 Locally The National Association of REALTORS®️ 2.1
- September MSI 2.6 Locally The National Association of REALTORS®️ 2.5 October MSI - 2.2 Locally The National Association of REALTORS®️ 2.5
- NOVEMBER MSI - 2.3 Locally The National Association of REALTORS®️ 2.3
- Economists describe a balanced real estate market as having 6 months of supply; a seller’s market would be less than 6 months supply; a buyer’s market would be greater than 6 months’ supply:
- The Fresno and Clovis markets still have low levels of inventory.
Articles/Interviews/Presentations that may be of interest:
- Sales of existing homes rose in November, notching the biggest year-over-year gain in more than three years. https://www.wsj.com/economy/housing/november-home-sales-post-biggest-ann
- ual-gain-since-2021-1c19f19d?st=PXz2cf&reflink=article_gmail_share
- Soaring home prices and rents have reached crisis levels in Europe and beyond. “The price in Ireland is mental.” https://www.wsj.com/
- economy/housing/housing-affordability-crisis-europe-global-3e0d969a?st=cUkquL&reflink=article_gmail_share
- The Trump transition team has started to explore pathways to dramatically shrink, consolidate or even eliminate the top bank watchdogs in Washington https://www.wsj.com/finance/regulation/trump-advisers-bank-regulations-fdic-efa761dc?st=J9pPse&reflink=article_gmail_share
- Higher home-insurance rates are here to stay, while homeowners in many areas face an increasing risk of nonrenewals, reduced coverage and expensive policy conditions https://www.wsj.com/finance/homeowners-insurance-rates-disasters-4f3e826d?st=ouycqV&reflink=article_gmail_share
- The Key to Affordable Living Is Moving In With Your Sibling https://www.wsj.com/economy/housing/living-buying-with-siblings-2e0a16a9?st=MgVECQ&reflink=article_gmail_share
Construction Industry Braces for One-Two Punch: Tariffs and Deportations https://www.wsj.com/economy/trump-immigration-deportation-policy-construction-impact-b8db1120?st=nuATAZ&reflink=article_gmail_share