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AUTHOR: Ernie Escobedo
The Fresno/Clovis market is experiencing a positive change in the resale market. Based on the most recent data from Movoto, the Median List Price today is $239,990 compared to $185,500 one year ago. That is a 30% increase year over year. Not only has the median price increased, but the listings are no longer “dirtied” with distressed homes. Today, of the 561 homes listed, only 5% are distressed compared to a year ago when 25% of the 804 homes listed were distressed. This makes for a healthier and cleaner market. To view statistics, http://www.movoto.com/statistics/ca/fresno.htm
The Clovis market is no different. The listings from Movoto reports the Median List Price today as $335,000 compared to $295,000 one year ago. The number of distressed listings has also seen a significant move in the positive direction. Of the 239 listings one year ago, 20% were distressed compared to today where only 5% of the 176 listings are distressed. To view statistics, http://www.movoto.com/statistics/ca/clovis.htm
One last statistic that bears mentioning, the number of days on market (DOM). In Fresno, the DOM today is 35 days compared to 43 days one year ago. And in Clovis, the DOM today is 41 days compared to 46 days one year ago.
There is no denying the data. Fresno/Clovis housing market is much stronger and healthier than a year ago. Could this also mean a change in the positive direction for home owners to experience equity in their biggest investment? We sure hope so…
There may be no better time to think about selling your home to move up into a new De Young home.