May Real Estate Update: last month's & Previous months sales, Patriotic Essay
Hi Friends- I hope all is well. Been a crazy month or so. One thing nice though, last week... My son, Joshua, Came in 2nd in a school district wide essay contest we had no idea he entered. The topic was, " Why I love my country".
Here he is with his teacher, Mrs. Mersino & Fellow classmate & 3rd place winner, Evan. Also, Joshua shown shaking hands with the governing board of Clovis Unified. Board President, Christopher Casado, standing. Great moment for Joshua. We were very proud of my son.
Real estate market. Presently, Home prices have jumped! From February to May there was an average price jump of 10 percent in that 2 month period.Incredible. Keep in mind, this does not apply to all neighborhoods. It is an average of all neighborhoods in the Fresno/Clovis area. Gas prices are presently ok & have edged up a little with the summer blend that is used in California. We continue to receive rain sporadically. Which is an improvement from previous years. (Hopefully, the state of California figures out a way to store all this water)
Anyway, with basically good gas prices & good interest rates these are good for real estate in this area.
LAST MONTH'S REAL ESTATE SALES
Homes sold last month, April.'16: 625
As of today, Last month's inventory of homes in the Fresno/Clovis area was
1,011. The present inventory stands at 1,179.
We have,what I call, a present monthly absorption rate of
Ask me how much your home is worth?
"Don't Settle for Less"
LIC#0111933
Here he is with his teacher, Mrs. Mersino & Fellow classmate & 3rd place winner, Evan. Also, Joshua shown shaking hands with the governing board of Clovis Unified. Board President, Christopher Casado, standing. Great moment for Joshua. We were very proud of my son.
Real estate market. Presently, Home prices have jumped! From February to May there was an average price jump of 10 percent in that 2 month period.Incredible. Keep in mind, this does not apply to all neighborhoods. It is an average of all neighborhoods in the Fresno/Clovis area. Gas prices are presently ok & have edged up a little with the summer blend that is used in California. We continue to receive rain sporadically. Which is an improvement from previous years. (Hopefully, the state of California figures out a way to store all this water)
Anyway, with basically good gas prices & good interest rates these are good for real estate in this area.
Please see my stats & additional commentary on the local market Below.
LAST MONTH'S REAL ESTATE SALES
As per information garnered from the Fresno Multiple Listing service, in the Fresno/Clovis area:
Homes sold last month, April.'16: 625
605 homes sold in March.'16.
Average sales price was $258,882
(April.'16)
Average sales price was $251,373
(March.'16)
Average sales price was $235,000 a year ago.
(April.'15)
Median sales price was $235,000
(April.'16)
(April.'16)
Median sales price was $233,000
(March '16)
Median sales price was $217,600 a year ago.
(April '15)
Breakdown per price range & Days on Market
233 homes sold from $200-400,000.The avg. D.O.M.: 50
38 homes sold from $400,000 Plus. The avg. D.O.M.: 76
__________________________________________
As of today, Last month's inventory of homes in the Fresno/Clovis area was
We have,what I call, a present monthly absorption rate of
approx.53%. Homes are selling.
Still good interest rates.
3.625% for FHA/VA
3.875% for Conv.
Always confirm interest rates with your trusted lender. If you do not have one,
I can refer you. I have excellent lenders I can refer you to.
loan program(s) availability is good. The real estate market remains healthy. Good time to buy. Good time to make that move.
3.625% for FHA/VA
3.875% for Conv.
Always confirm interest rates with your trusted lender. If you do not have one,
I can refer you. I have excellent lenders I can refer you to.
loan program(s) availability is good. The real estate market remains healthy. Good time to buy. Good time to make that move.
As you probably know, most real estate decisions are made with wise counsel.Do not hesitate to contact me.
Put my experience & know-how to work for you! "Don't Settle for less"
Ask me how much your home is worth?
Contact me for your Free, no obligation consultation.
Have a great day!
Derek Monreal
Realtor
7050 N. Fresno St., #204
"NEVER TO BUSY FOR YOUR REFERRALS! "
"I Donate 10% to Charity"
"Don't Settle for Less"
LIC#0111933
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