Good afternoon! I've attached the July's Agent Metrics Report and the Tracking Sales in Fresno and Clovis Google Sheet with this email. The highlights from the Fresno and Clovis Markets are below.

• Median Sold price was DOWN ↓ from June 2024:

• July  2024 $416,250.00
• June 2024 $425,00.00

• 506 homes sold

• 7.20%  MORE ↑ homes sold July of 2024 than in July of 2023 (472 homes sold July of 2023 versus 506  homes sold July of 2024 that is 34 MORE ↑ homes)
• 4.55% MORE ↑ homes sold in July of 2024 versus June of 2024 (506 homes sold July of 2024 versus 484 homes sold June of 2024. That is 22 MORE ↑ homes sold in July than June).

• Average Days on Market:

• Average Days on Market for homes that sold in July 2024 was 26 days.

• This is UP ↑ from June 2024.
• DOM for June 2024 was 22 days

• For homes with no price changes the Average Days on Market is 15 days.

• Sales Price versus Offer Price was 100.1%

• For homes with 1+ price changes the Average Days on Market is 51 days

• Sales Price versus Offer Price was 94.3%

• Median For Sale Price $430,000.00 versus Sold Price of $416,250.0
• Four (4) bank owned properties sold.

• Other Real Estate Owned (OREO) sales are UP ↑  from June 

• 517 homes went under contract.
• 601 New Properties were listed for sale. 
• Months’ Supply Inventory of 1.7 months.

• 2024 Inventory levels

• January MSI - 1.9 Locally versus The National Association of REALTORS®️ 2.6
• February MSI - 2.1 Locally The National Association of REALTORS®️ 2.2
• March MSI - 1.7 Locally The National Association of REALTORS®️ 1.7
• April MSI - 1.9 Locally The National Association of REALTORS®️ 1.9
• May MSI - 1.9 Locally The National Association of REALTORS®️ 2.0
• June MSI - 2.2 Locally The National Association of REALTORS®️ 2.0
• July MSI - 1.7  Locally The National Association of REALTORS®️ 1.8

• 2023 Inventory levels have fluctuated

• January MSI - 1.8 Locally versus The National Association of REALTORS®️ 2.5
• February MSI - 1.7 Locally versus The National Association of REALTORS®️ 1.9
• March MSI -  1.2 Locally versus The National Association of REALTORS®️ 1.3
• April MSI - 1.1 Locally versus The National Association of REALTORS®️ 1.3
• May MSI - 1.1 Locally versus The National Association of REALTORS®️ 1.1
• June MSI -1.3 Locally versus The National Association of REALTORS®️ 1.2
• July MSI - 1.4 Locally versus The National Association of REALTORS®️ 1.4
• August MSI - 1.7 Locally versus The National Association of REALTORS®️ 1.7
• September MSI - 1.8 Locally versus The National Association of REALTORS®️ 1.9
• October MSI - 2.0 Locally versus The National Association of REALTORS®️ 1.8
• November MSI - 2.2 Locally versus The National Association of REALTORS®️ 2.2. 
• December MSI - 2.3 Locally versus The National Association of REALTORS®️ 1.9. 

• Economists describe a balanced real estate market as having 6 months of supply; a seller's market would be less than 6 months supply; a buyer's market would be greater than 6 months’ supply.

• The Fresno and Clovis markets still have low levels of inventory.

View the supporting statistics HERE

Articles/Interviews/Presentations that may be of interest:

1. The Share of Million-Dollar Homes in America Just Hit an All-Time High
2. Harris Housing Plan Aims to Add 3 Million Homes. Many Hurdles Await
3. So Much About Real-Estate Commission Just Changed. Here's what to know. The changes come after the National Association of REALTORS ® ️ reached a landmark legal settlement earlier this year
   
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I enjoy your feedback. If you're seeing something different, have a different perspective OR would like additional information added to these monthly updates please email me your request. My team and I track local rents. If you're an appraiser and need a rent survey, email me a request.  

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