Real Estate Blog

Fresno home sales and price tumble in July

Fresno County home sales and price stumbled in July as housing affordability continued to erode making it harder for buyers to afford a home.

In Fresno County, home sales fell 13 percent month-over-month, but was up a slight 1.2 percent compared to last year, according to the California Association of Realtors.

The median home price fell to $235,700 in July compared to $241,000 in June. Last year at the same time, Fresno’s home price was $225,000. I reported last week that about half of all Fresno buyers can afford to buy a house.

Sales were down 2.5 percent in Tulare County, nearly 20 percent in Kings and 22 percent in Madera County while home prices picked up.

Elsewhere in California, the trend is similar but prices are much higher than the central San Joaquin Valley. It makes you feel a little better knowing homeownership is still within reach.

The median home price in San Francisco, for example, is $1.36 million, up from $1.35 million while San Mateo saw a jump to $1.35 million from $1.3 million.

BoNhia Lee: 559-441-6495, @bonhialee

July 2016 County Sales and Price Activity

County

July 2016 median price

June 2016 median price

July 2015 median price

Monthly sales change

Yearly sales change

Fresno

$235,700

$241,000

$225,000

-13.2%

1.2%

Kings

$215,000

$207,000

$193,790

-19.8%

-28.1%

Madera

$233,000

$230,380

$215,000

-22.2%

-18.2%

Merced

$215,000

$213,500

$195,900

-15.1%

3.2%

Tulare

$215,000

$210,000

$185,800

-2.5%

9.6%

San Francisco

$1,362,500

$1,350,000

$1,284,440

-15.9%

-14%

San Mateo

$1,350,000

$1,306,250

$1,300,440

-13.3%

-13.8%

California

$509,830

$519,410

$490,780

-4.1%

-5.1%

Source: California Association of Realtors

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