We’ve always loved Fresno real estate, and with the way the Fresno housing market is booming right now, it looks like many people are feeling the same way.
In fact, the Los Angeles Times recently called Fresno “the nation’s hottest housing market.” That’s based on the 39% increase in average home rental prices since 2017.
Fresno is the fifth-largest city in California, but none of the other big cities have housing markets that are doing as well as ours. Quite the opposite, actually. While the Fresno housing market is booming, the L.A. Times reports that “rents have plummeted” in Los Angeles, San Jose, and San Francisco.
Experts say there are a number of factors that contribute to the rise in Fresno prices, including people moving here from areas that have a higher cost of living.
Whatever the reasons, with the Fresno housing market booming like it is, now is a great time to buy — and especially sell — Fresno real estate.
Data from the California Association of Realtors shows that the average sold price of a single family home in Fresno was $350,000 in March of this year. That’s up from an average of $282,500 in March of 2020. This is a nearly 24% increase.
There is very low inventory of homes for sale in Fresno, making the market highly competitive. Many buyers are offering more than what the seller is asking in order to get their offer accepted.
This is why it’s so critical to work with real estate professionals who really know the area.
If you’re buying, you need to make sure that you’re not over-spending.
If you’re selling, you need to make sure you’re pricing competitively.
With such a hot housing market, you definitely need Fresno’s top real estate experts on your side if you’re looking to buy or sell right now. We’re here to help.
Send us a message or call us at 559-490-0207 today.