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:
