What Are Homes Selling For At Woodward Lake, Fresno CA. 93720 & 93730
If you are one of the many wondering what homes are selling for at Woodward Lake in Fresno, CA. 93720 & 93730 then this post is for you. It seems like home sellers are finally buying into the fact that home ownership is in high demand judging by what homes are being listed for. The main culprit for the increase in home values can be attributed to the lack of inventory. The low supply is driving demand up. There may be other factors driving home values up too such as the soon to be FHA increase in mortgage insurance which will create a higher payment for new home owners when it goes into effect. This new mortgage insurance will also be part of the loan for 30 years!
But what does this all mean for the highly coveted Woodward Lake area? Lets take a look at some data and see how the market is being shook up at this community level. Over the past six months, the MLS shows that there were 26 homes sold in the WWL area. On average, these homes were 2,364 sq. ft. and they sold for an average of $137 per sq. ft. Presently there are a total of seven homes that are listed as Active in the MLS. These homes average 3,183 sq. ft. with an average price per sq. ft. of $179. There is a significant jump in price from the sold to the active listings. Now, this data is somewhat skewed because it doesn't take into account which homes are on the water and which ones are not but it still points to a rising trend in home values
So the question that you need to ask yourself if you are a buyer or seller when determining value is will a home appraise for the price that it is listed for or the price that you want to sell for. If you are a buyer your main concern should be to not offer so little that there are five higher bidders. Conversely, if you are a seller you don't want to list your house for so much only to find out that it will not appraise for the agreed upon price during escrow. Whether you are a buyer or a seller make sure that you are getting good advice and good information that backs up that advice. Click here to find listings in this area that are updated daily.
What Are Homes Selling For At Woodward Lake, Fresno CA. 93720 & 93730
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