Written by The Business Journal Staff
The Central Valley saw a slight increase in sales of single-family homes, with sales up 1.1 percent when compared to last year.
The median home price in Fresno County went up from $247,250 in March 2017, to $264,950 in March 2018, a 7.2 percent jump. There was a month-to-month decrease of -0.6 percent, with the median home price at $266,440 in February 2018, according to data from the California Association of Realtors.
Both the month-to-month and year-to-year change for Kings County was 10.7 percent, with the median home price at $215,000 in March 2017 and February 2018, and jumping to $238,000 in March 2018.
The month-to-month change for Madera County was 3.9 percent, a rise from $255,000 in February 2018 to $265,000 in March 2018, and the year-to-year change was 10.9 percent with a median home price of $239,000.
Median home prices in Tulare County rose from $225,000 in February 2018 to $232,500 in March 2018, a month-to-month change of 3.3 percent, with a 10.7 percent rise for the year-to-year change from $210,000 in March of 2017.
The California housing market is still seeing an upward trend as seasonally-adjusted, existing homes sales rose month to month and year to year in March, and the statewide median price is the highest its been in eight months.
Sales figures for March were up 0.3 percent from levels in February and up 1.6 percent when compared with the home sales in March of 2017. The year-to-year increase was slightly higher than the six-month average sales growth of -0.1 percent recorded between September 2017 to February 2018.
The median price for a single family California home increased from $518,600 in March 2017 to $564,831 in March of 2018.
“The housing market performed solidly throughout the state in March, especially in the San Francisco Bay Area, which led the way with six of nine counties posting sales increases and the median price surging by double-digits in seven of nine counties,” said C.A.R. President Steve White. “On the other hand, sales in the Southern California region have cooled for the past five months, even in the more affordable Riverside and San Bernardino areas.”