Now is the time for homebuilders to open their stalled legacy projects. Beazer Homes recently closed out The Groves at Sunnyside Point, their neighborhood adjacent to KB Home’s Olive Lane new home community located in Sunnyside Fresno. New homebuilders will not have to compete as hard for new home buyers shopping the area.
HOME PRICES
According to the California Association of Realtors, Fresno County home prices increased 15.3%, but sales were down 22.2% from the previous year. Madera County saw prices increase 36.1%, but sales were down 24.4% from the previous year. However, sales are looking up with a 19.2% increase in sales from the previous month in Madera County.
| December 2012 County Sales and Price Activity | |||||||
|
Median Sold Price of Existing Single-Family Homes |
# of Sales |
||||||
| County |
12-Dec |
12-Nov |
11-Dec |
MTM% Chg |
YTY% Chg |
MTM% Chg |
YTY% Chg |
| Fresno |
$157,620 |
$148,240 |
$136,740 |
6.3% |
15.3% |
-2.5% |
-22.2% |
| Madera |
$144,290 |
$113,330 |
$106,000 |
27.3% |
36.1% |
19.2% |
-24.4% |
Source: California Association of Realtors
UNSOLD INVENTORY & TIME ON MARKET
According to Land Advisors Organization research, unsold inventory in Fresno County decreased 7.3% from the previous year and Madera County decreased 47.4% from the previous year. The median time on market decreased 24.1% in Fresno County and increased 25.4% in Madera County from the previous year.
| December 2012 County Unsold Inventory and Time on Market | ||||||
|
Unsold Inventory Index |
Median Time on Market |
|||||
| County |
12-Dec |
12-Nov |
11-Dec |
12-Dec |
12-Nov |
11-Dec |
| Fresno |
3.8 Months |
4.2 Months |
4.1 Months |
26.4 Days |
26.3 Days |
34.8 Days |
| Madera |
2 Months |
3.2 Months |
3.8 Months |
64.6 Days |
27.9 Days |
51.5 Days |
Source: California Association of Realtors
FINISHED LOT INVENTORY
Home Buyer demand is escalating fast. Quality resale inventory is sparse. If you own 10 or more acres of land in the path of development, you should be at the City processing a subdivision map faster than Mardi Gras beads flying from a balcony overlooking Bourbon Street. If you are not familiar with the entitlement process please contact me so I can help get you started.
NEW DEVELOPMENT
Fresno developers plan medical campus at Millerton Lake. FULL STORY
Source: Mark Utman, Marketing Consultant, (559) 549-6326
LANDED 