Top Mega Teams in Fresno, California – Ranked by Sides

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    2023 Fresno, California Housing Market Summary

    Fresno, California started 2023 with a total of 535 single-family homes on the market, with a median home price of $409,900 and an average price per square foot of $252. By the end of the year, inventory had decreased to 520 homes on the market (-2%), with a median home price of $430,000 (+4%) and an average price per square foot of $277 (+9%).

    At the start of 2023, the median days on market (DOM) was 56 days – by the end of the year, median DOM had remained the same at 56 days.

    Fresno started the year with 40% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 28% of Fresno homes for sale had taken a price cut.

    Finally, Altos’ proprietary Market Action Index (MAI) shows that Fresno started 2023 as a seller’s market, with an MAI score of 44; by the end of the year, the MAI had dropped to 34 – a balanced buyer and seller’s market.

    This market summary is powered by Altos Research – click here to run a free report for your area.

    Housing Market News

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    Lower mortgage rates attracting more homebuyers 

    Sep 16, 2024By

    An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. That’s ok — very few people are looking at the data without an agenda. However, the point of this tracker is to show you evidence that lower rates have already changed housing data. So, let’s […]

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