Derek's Real estate Update: Gas prices still good? March sales, Rates up?
Hello Friends-
Gas prices continue to be a bright spot. They are around $2.85. Still good. Also, interest rates are still good!(See below)
Local market is seeing value stabilization.
Local market is seeing value stabilization.
The state of California,though, is doing well.
California March home sales and price report use link:
http://rem.ax/1DTisz8
Please see my stats & my commentary on the local market Below.
LAST MONTH'S REAL ESTATE SALES
As per the Fresno Multiple Listing service, in the Fresno/Clovis area:
Homes sold last month, March.'15: 584
A year ago,March '14, homes sales were 486.
(Approx. 16% increase from a year ago)
444 homes sold in Feb.'15.
Average sales price was $234,701 (March.'15)
Average sales price was $225,027 (March.'14)
Median sales price was $223,750 (March.'15)
Median sales price was $211,000 (March.'14)
Breakdown per price range & Days on Market
240 homes sold under $200,000. the avg. D.O.M.: 52
296 homes sold from $200-400,000.The avg. D.O.M.:70
53 homes sold from $400,000 Plus. The avg. D.O.M.:111
__________________________________________
As of today, the present inventory of active homes in the Fresno/Clovis area stands at 1,247.
1290 active homes in April '14. (Minimal difference from a year ago)
We have,what I call, a present monthly absorption rate of
We have,what I call, a present monthly absorption rate of
approx.46%.
Values have presently stabilized the 1st quarter of 2015.
Values have presently stabilized the 1st quarter of 2015.
But, You can see the average sales price
& the Median price are up from a year ago.
***Today's Purchase Rates
Product Interest Rate APR
Conforming and FHA loans
30 year Fixed Rate FHA 3.625 4.644
15 Year Fixed Rate 3.125 3.176
7/1 ARM 3.00 2.990
5/1 ARM FHA 3.00 3.420
***Always confirm interest rates with your trusted mortgage advisor. if you don't have one, I can refer you to one.
Overall, with good interest rates, loan programs availability, & Low gas prices, the Real estate market looks healthy. Good time to buy. Good time to make that move.
As you probably know, most real estate decisions need wise counsel.Do not hesitate to contact me.
Put my experience & know-how to work for you!
Ask me how much your home is worth?
Contact me for your Free, no obligation consultation.
Have a great day!
Best Regards,
Derek Monreal
RE/MAX GOLD "Over 20 years experience. Integrity"
RE/MAX GOLD "Over 20 years experience. Integrity"
7050 N. Fresno St., #204
Fresno,CA 93720
Direct:559-349-0296
E-mail address: listwithderek@gmail.
E-mail address: listwithderek@gmail.
Mobile:http://rem.ax/1Bs8Utl
Facebook page: http://rem.ax/1Bs84gq
" I LOVE REFERRALS! " "I Donate 10% to Charity"
LIC#0111933
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