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Posted by Todd Mitchell on August 23, 2019
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Is the market on fire ๐Ÿ”ฅ or what? ๐Ÿค”

July 2019 Real Estate Market Snapshot

Greetings EVERYONE!ย  is it just us or is this year FLYING BY? ๐Ÿ˜ฎ It seems to go faster and faster each year. I mean wow, end of August already; we’re now about to usher the ๐Ÿ๐ŸŽƒ fall season in and before we know it we’ll be talking about Christmas.๐ŸŽ„

So, why are we talking about July market results when it’s the end of August? Well, it’s because the results the Fresno Association of Realtors post are always one month back. Great question though! ๐Ÿ‘๐Ÿป

So according to the statistics, it’s still a sellers market. Inventory is still VERY low… BUT I guess home buyers these days don’t know that because in our experience, they’re acting like it’s a buyers market. Slow to make offers, hyper critical and so it goes. We’re seeing days on market start to really linger and price drops are now a regular occurrence.ย  โ˜๐ŸปThat is, unless you’re in the median price point which hovers right at 282K. Those homes are still being sold relatively quick, just not as quickly as earlier this year; for the most part.

 

๐Ÿ’ฅ Inventory:ย  This continues to be LOW! Very Low. We’re nestled in at 1.7 months of supply for the entire Fresno / Clovis area, below the national average of 1.8months.

๐Ÿ’ฅ Days on market (DOM):ย  This stayed consistent in July at 32 days, same as in June. However, in July of 2018, DOM was 26 days which is a +19% change. We’re noticing it too with our listings.ย 
๐Ÿ’ฅ Sold Homes: We’re pretty much consistent with sold homes year over year with just a -1% change from 717 homes sold in July 2019 opposed to 722 in July of 2018.
๐Ÿ’ฅ Median Home Price: The median price has climbed from 270K in July of 2018 to 282K in July of 2019 which is a 4.5% year over year increase. In 2017 it was 257K which means the average home price has appreciated $25,000 or right at +10% in two years.

 

So, whats the verdict? We’re still sensing a shift towards a balanced market. From what I’m reading, most analyst are predicting a good remainder of the year for 2019 and then rough waters could be in our future as we head further into the 2020’s. For now though, hey, we’re solidly in a sellers market. So you sellers, seriously, now is the time. The interest rates are HISTORICALLY LOW which encourages buyers to go out, shop and ultimately buy. You may be kicking yourself this time next year if you wait. So, contact us now to start planning the best way to maximize your available profit when selling your home. Be sure to ask us about our Concierge Level Service Program and how we’re helping our selling clients GREATLY increase their profit from the sale of their home.

๐Ÿคš๐Ÿผ Also, if you’re wondering about the actual value of your home and not just want the Zestimate says (I’M SURE you know it can vary by A LOT), reach out to us here:ย ย  GreenFinRealty.com/HomeValue.

 

Have a GREAT last week of August!ย  Weโ€™ll see you soon!

 

 

 

 

All the best,

Todd & Linda Mitchell
The MITCHELL Team
559-440-6818
CalDRE# 01948429 / 01954417

Stop Searching & Start Living, the GoodLife!

 

 

 

 

 

 

 

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