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.
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“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.”
Home sales and median home price
March 2016 median price
Feb. 2016 median price
Monthly sales change
Yearly sales change
Source: California Association of Realtors