Real Estate Blog

Fresno home prices and sales up in March

Fresno existing home sales and price increased in March.
Fresno existing home sales and price increased in March. sflores@fresnobee.com

The spring homebuying season got off to a good start in March with home prices and sales up in most of the central San Joaquin Valley and across the state, according to the California Association of Realtors.

In Fresno County, the median price of an existing home was $230,880 in March compared to $210,370 the month before, the association’s monthly home sales and price report said. Home sales were up nearly 24 percent last month over February.

Kings and Tulare counties saw a 20 percent and a 35.7 percent month-over-month sales increase, respectively. Home prices were up 1.1 percent and 4.2 percent. Madera County, however, saw home prices dip slightly.

Statewide, the home price increased to $483,280, up 8.9 percent from last month. Home sales went up 5.5 percent.

“California’s housing market is moving in the right direction as we enter the spring homebuying season,” said Pat “Ziggy” Zicarelli, association president. “But sales growth will likely be isolated in areas where inventory is more abundant and housing affordability is less of an issue.”

BoNhia Lee: 559-441-6495, @bonhialee

Home sales and median home price

County

March 2016 median price

Feb. 2016 median price

Monthly sales change

Yearly sales change

Fresno

$230,880

$210,370

23.9%

7.4%

Kings

$204,810

$202,500

35.7%

50.8%

Madera

$215,000

$215,380

17.4%

-1.8%

Tulare

$197,220

$189,200

20.0%

7.4%

Source: California Association of Realtors

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