Where Are Market Conditions Heading in Central San Joaquin Valley?

Valley Wide Homes Real Estate Podcast with Craig Barton

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Clients come to us all the time asking what market conditions are like in the Central San Joaquin Valley - today, we want to share a brief market update to keep you in the loop.

Right now, we have roughly 2,130 active properties here in the Fresno County and we're selling properties at about 700 properties per month. Economists say that somewhere between 3-5 months of active inventory is indicative of a balanced market. This equilibrium is important because it means that neither buyers nor sellers have an advantage in the market.

Because our market is balanced, home values are appreciating at a much slower rate than they have in the past, somewhere between 3-5% annually. This is good news, as the appreciation we saw between July 2012 and July 2013 was simply unsustainable; rates increased by a little over 30% during that time period, which is typically indicative of a bubble before the wheels come off. Luckily, we avoided a big fall in the market this time around, and things have normalized.

If you have any questions about where the market is heading, or if you need real estate assistance of any kind, please don't hesitate to reach out to us. We would love to hear from you!