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FutureStarrThe Housing Market in Fresno, California
According to Zillow Fresno, the median home price is $358,255. That's an increase of 22.7% from the previous year and is expected to continue in the next year. Metro Fresno, officially known as Fresno-Madera, CA CSA, is the third largest metropolitan area in Northern California. Located in Central California, the average home value is $358,255. In the next year, it's predicted that homes in the area will grow 16.1%, making it one of the fastest-growing areas in the country.
The city has an extremely competitive housing market, as home prices are higher than in other parts of California. The median home value is $243,200 on Zillow. This has seen a five-year increase, and Zillow projects that prices will increase another 2.5% by June 2020. The median list price per square foot in Fresno is $165, which is lower than the average for the Fresno Metro area.
According to Zillow, home prices in Fresno have increased 13.1% since last year. The median price of a home in Fresno is $243,200. Over the past year, home prices have increased 5.8%. For the next year, Zillow predicts that home prices in Fresno will rise by an average of 2.5%. As for rent, the median list price is slightly lower than the median rent in Los Angeles and San Francisco.
Although home prices in Fresno are low compared to other cities in the region, they are still very competitive. On average, homes in the city sold for $362K, which was up from just $292,000 a year ago. The median unsold inventory in Fresno is 1.9 months, which is lower than the San Francisco and Los Angeles areas. Buying a home in Fresno may be a good investment for many reasons.
While the housing market in Fresno is small by Californian standards, it's still a large one in terms of the real estate market. The average home value in the city is $243,200. As of April 2018, home values in the city increased by 5.8% since last year. Meanwhile, Zillow predicts that home prices in Fresno will rise 2.5% by June 2020. However, the median list price per square foot is lower than the average for the entire metro area.
The median price in Fresno City is $343,982, up 23.0% from last year. In Madera County, home values rose 20.6% from last year and were up 30.0% from a year ago. With a median list price of $362K, homes in the city are selling fast and are pending in an average of 10 days. At $165 per square foot, the median price per square foot is lower than the average in the entire metropolitan area.
Fresno has a good housing market and is set to be one of the top housing markets in the nation in 2022. The Central Valley has become one of the country's hottest housing markets this year. The median price of an existing house in the Central Valley was $450,000 in October. A month's supply of inventory is 1.8 months. This puts pressure on home prices to continue to increase in the next year.