Good morning,
Attached, you'll find March's Agent Metrics Report, the Fresno and Clovis Sales Tracking Google Sheet, commentary contributed by Ryan De Young of De Young Properties on impact fees, and a selection of insightful real estate and finance articles. I hope these resources provide valuable insights and support your success.
Fresno and Clovis Real Estate Market Update: March 2025
Key Highlights:
- Median Sold Price: Increased to $434,140 in March 2025, up from $427,000 in February 2025 (+1.68%).
- Homes Sold:
- 403 homes sold in March 2025, down 12.01% from 458 in March 2024 (55 fewer homes).
- Up 16.81% from 345 homes sold in February 2025.
- Average Days on Market (DOM):
- March 2025: 33 days, down from 42 days in February 2025.
- Homes with no price changes: 16 days.
- Homes with 1+ price changes: 65 days.
- Sales Price vs. Offer Price:
- Homes with no price changes: 99.3%.
- Homes with 1+ price changes: 95.8%.
- Median For-Sale Price: $443,000 vs. Median Sold Price: $434,140.
- Bank-Owned Properties: 1 sold in March 2025, with Other Real Estate Owned (OREO) sales up from February.
- Pending Sales: 509 homes went under contract, signaling a potentially strong April.
- New Listings: 604 properties listed for sale.
- Months’ Supply of Inventory (MSI): 1.9 months in March 2025, indicating a tight market.
Inventory Trends:
- 2025 Local MSI:
- January: 2.7 (vs. NAR: 3.2)
- February: 2.5 (vs. NAR: 3.0)
- March: 1.9 (vs. NAR: 2.4)
- 2024 Local MSI (for comparison):
- January: 1.9 (vs. NAR: 2.6)
- February: 2.1 (vs. NAR: 2.2)
- March: 1.8 (vs. NAR: 1.8)
- April: 2.0 (vs. NAR: 2.0)
- May: 2.0 (vs. NAR: 2.2)
- June: 2.4 (vs. NAR: 2.1)
- July: 2.1 (vs. NAR: 2.0)
- August: 2.1 (vs. NAR: 2.2)
- September: 2.7 (vs. NAR: 2.6)
- October: 2.4 (vs. NAR: 2.6)
- November: 2.7 (vs. NAR: 2.5)
- December: 2.7 (vs. NAR: 2.4)
Market Insight:
The Fresno and Clovis markets continue to experience low inventory levels, though they are gradually increasing. With a Months’ Supply of Inventory at 1.9 months, the market remains competitive, favoring sellers. The rise in pending sales and new listings suggests robust activity heading into April.
Commentary Contributed by Ryan De Young of De Young Properties:
A Homebuilder’s Take on Our Housing Crunch
As a Central Valley home builder, I’m deeply attuned to our region’s housing affordability challenges. In a recent conversation with Jared Martin, we explored actionable solutions to improve home accessibility for our community. Below is a summary of the key discussion points.
Fees Are Driving Up Costs
Across the country, regulatory fees add 0.5% to 3% to building costs. But here? They can eat up to 9% of a home’s price. Ouch! Big culprits include school fees (over $5.00 per square foot), sewer and water charges (up to $10,000 per home), and a pile of overlapping fees for things like roads and parks. These fees fund important stuff, but they’re often so complicated they make it tougher to build affordable homes.
Ideas to Lighten the Load
- Some smart fixes:
- Be Clear: Use AB 602 to make fees transparent and audit how they’re spent.
- Help Small Projects: Cut fees for infill builds that use existing roads and pipes.
- Simplify: Bundle small fees into one flat charge.
- Ease Cash Flow: Let builders pay big fees at closing.
- Reward Good Work: Offer credits for affordable or eco-friendly homes.
- Speeding Up the Process - The red tape’s another hurdle. They suggested:
- Fix CEQA: Keep environmental protections but stop lawsuits that stall projects.
- Ready-Made Plans: Use pre-approved designs for small homes to save time.
- Move Faster: Set deadlines for city approvals.
Big Ideas for Change:
- Some bold moves:
- Housing Zones: Create areas where approvals are quick and easy.
- Fee Help: Get state funds to lower fees for starter homes.
- Pre-Approved Lots: Clear infill parcels to make building simpler.
Let’s Work Together
We want to build great neighborhoods, but we need a fairer system. Let’s push local leaders to cut fees and red tape so more Central Valley families can own a home!
Articles/Interviews/Presentations/Books that may be of interest:
- https://www.fresnobee.com/opinion/article303965336.html#campaignName=fresno_morning_newsletter
- House of the Week: A Riverfront California Home That Was Made for Music
- Why your top tax rate isn’t what you actually pay
- Many Canadians are giving up their U.S. vacation homes, selling properties they have owned for decades in popular snowbird spots like Florida and Arizona.
- Luxury real estate has largely untouchable for the past few years. But market gyrations and tariffs are casting a show on high-end property as buyers pull out of deals or tap the brakes amid economic uncertainty.
View the supporting statistics HERE
Jared Martin & Associates
Jared Martin, CCIM
2019 President California Association of REALTORS®️
Broker Associate - Lic. 01319553
Keller Williams Realty
740 W Alluvial Avenue Suite 102
Fresno, CA 93711
Cell: (559)779-1504
Office: (559) 721-4342
