Fresno CA Real Estate Market Update

By
Real Estate Broker/Owner with Lazarus Realty

Sales Statistics for the month of October 

Down,Down, Down She Goes - and where she stops, nobody knows!

It would be nice to be able to report an improvement in the numbers, but that's just not in the cards.  The Fresno Market has a large (HUGE) supply of unsold inventory on the MLS which is only aggravated by large numbers of unsold new homes by the builders.  Builders are offering substantial incentives to attract buyers.  I received a correspondence from a broker representing D. R. Horton informing of builder incentives of $40,00 to $60,000  with an additional $10,000 towards closing cost and very liberal 4.25% cooperating broker commission. Translation: desperate to sell!

Here are the numbers: Frown

Closed sales for September                                  250 down 62 from last month
Closed sales for the month of September 2006          409 down 39% from last year
Closed sales year to date 1/1/07 to 9/30/07             2913
Closed sales in 2006  1/1/06 to 9/30/06                  3943 down 26% from last year

Now to put these numbers in perspective you need to understand that the Fresno MLS has added 41 additional licensed Realtors last month bringing the total to 4243 members.  If you do the math it's not a pretty picture.

Now - that's the not so good news and yes it is NEGATIVE, but I, "Lazarus", have a smile on my face and I'm ready to assist you with your home purchase or sale with a POSITIVE ATTITUDE. happy and positive

If your are looking to buy a home (for your personal residence) there are some attractively priced homes.  I do think that the best bargains right now are the new homes that the builders are offering incentives on.  

If you are an investor, the best opportunites lie in the vacant REOs, short sales, and otherwise desperation sales. 

In either case, home buying or investing, I can help you find what you looking for.

Randy "Lazarus" McAtee
559-301-1647
Owner/Broker  Lazarus Realty

 

 
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Randy "Lazarus" McAtee

Owner/Broker, Lazarus Realty, Fresno California
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