Keller Williams Fresno

April 2024 Market Update: Fresno/Clovis

Revised from Jared Martin’s monthly update

April 2024 Edition
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:

  1. Housing Market Slumps As Mortgage Rates Top 7%
    • Access to this article may require a subscription.
  2. Stubbornly High Rents Prevent Fed From Finishing Inflation Fight
    • Access to this article may require a subscription.
  3. Sky-High Housing Costs Propel Construction of Rental Homes
    • Access to this article may require a subscription.
  4. How to Pay for a Home Renovation
    • Access to this article may require a subscription.
  5. Homes are Overvalued in Most of The US


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