In the month of August there were 567 homes sold in Fresno and Clovis! On September 1st we had only 466 active homes on the market. Just to repeat that, we have 466 active homes on the market, and last month we sold 567. That’s not the first time this year that’s happened.
For the past few months we are selling more homes than we actually started the month with. If your home is priced right and marketed properly it is selling in less than 30 days. If we break it down even further, and look at home sales by price point, here’s what it looks like. There were 234 homes under $300,000 sold in August. On September 1st there were only 124 active homes on the market under $300,000.
Between $300,000 and $350,000, 99 homes sold in August and 77 active on September 1st. In the $350,000 to $450,000 price range 116 sold in August and only 94 on the market as of September 1st. The price point $450,000 to $600,000 72 homes sold in August only 55 on the market today. But as is the case in every market there’s always an opportunity.
What Does That Mean For Me?
Where’s the opportunity in this hot Market?
If you’re a seller and looking to buy a bigger home, your big opportunity is being a move up buyer and buying a home over $600,000. That is the one group where we have a lot more homes on the market than sold last month. In August there were 45 homes sold in the over $600,000 price range. As of September 1st there are 116 homes in that price range on the market. You have a great opportunity to sell your current home for full market value, or maybe even a little above market value. If you’re buying in the $600,000 plus price range you also have an opportunity to maybe make a great deal on that home.
Now that’s not to say that if you’re in these other price ranges you shouldn’t take advantage of this great market. Because interest rates are at all-time low. What you should do is do it in the right way. That way you don’t leave tens of thousands of dollars on the table because you did things in reverse. There is absolutely a right and wrong way to buy and sell a house at the same time and most people do it incorrectly. They do it in reverse.
If you’re thinking about selling and you’re going to buy at the same time just reach out to us! Let’s have a conversation about how to do it the right way and more importantly, the most profitable way for you.