The highlights from the Fresno and Clovis Markets are below.
- Median Sold price was UP from March 2024:
- April 2024 $421,945.00
- March 2024 $410,000.00
- 428 homes sold
- 1.65% FEWER homes sold April of 2024 than in April of 2023 (435 homes sold April of 2023 versus 428 homes sold April of 2024. That is 7 FEWER homes)
- 1.61% FEWER homes sold in April of 2024 versus March of 2024 (428 homes sold April of 2024 versus 433 homes sold March of 2024. That is 5 FEWER homes sold in April than March).
- Average Days on Market:
- Average Days on Market for homes that sold was 29 days.
- This is FEWER from March 2024.
- DOM for March 2024 was 32 days
- For homes with no price changes the Average Days on Market is 14 days.
- Sales Price versus Offer Price was 100.5%
- For homes with 1+ price changes the Average Days on Market is 64 days
- Sales Price versus Offer Price was 93.1%
- Median For Sale Price $449,250.00 versus Sold Price of $421,945.00
- 1 bank owned properties sold.
- Other Real Estate Owned (OREO) sales are DOWN from March.
- 452 homes went under contract.
- 605 New Properties were listed for sale.
- Months’ Supply Inventory of 1.5 months.
- 2024 Inventory levels
- January MSI - 1.6 Locally versus The National Association of REALTORS®️ 2.1
- February MSI - 1.7 Locally The National Association of REALTORS®️ 1.8
- March MSI - 1.5 Locally The National Association of REALTORS®️ 1.5
- April MSI - 1.5 Locally The National Association of REALTORS®️ 1.6
- 2023 Inventory levels have fluctuated
- January MSI - 1.8 Locally versus The National Association of REALTORS®️ 2.5
- February MSI - 1.7 Locally versus The National Association of REALTORS®️ 1.9
- March MSI - 1.2 Locally versus The National Association of REALTORS®️ 1.3
- April MSI - 1.1 Locally versus The National Association of REALTORS®️ 1.3
- May MSI - 1.1 Locally versus The National Association of REALTORS®️ 1.1
- June MSI -1.3 Locally versus The National Association of REALTORS®️ 1.2
- July MSI - 1.4 Locally versus The National Association of REALTORS®️ 1.4
- August MSI - 1.7 Locally versus The National Association of REALTORS®️ 1.7
- September MSI - 1.8 Locally versus The National Association of REALTORS®️ 1.9
- October MSI - 2.0 Locally versus The National Association of REALTORS®️ 1.8
- November MSI - 2.2 Locally versus The National Association of REALTORS®️ 2.2.
- December MSI - 2.3 Locally versus The National Association of REALTORS®️ 1.9.
- 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:
- Housing Market Slumps As Mortgage Rates Top 7%
- Access to this article may require a subscription.
- Stubbornly High Rents Prevent Fed From Finishing Inflation Fight
- Access to this article may require a subscription.
- Sky-High Housing Costs Propel Construction of Rental Homes
- Access to this article may require a subscription.
- How to Pay for a Home Renovation
- Access to this article may require a subscription.
- Homes are Overvalued in Most of The US
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