Fresno Real Estate Market Update: May 2023 Brings Higher Home Prices with 5.6% Increase in Average Sold Price

The Fresno real estate market has been experiencing some changes in prices recently. If you're a buyer or seller in the market, it's essential to know what's happening with prices and what you can do to make the most of your situation.

For Buyers:

The average sold price in Fresno has been increasing steadily over the past few months, with a 13.8% increase from the previous month. This means that buyers should be prepared to pay more than they might have in the past. However, the average sold price per square foot has only increased by 4%, indicating that there may still be some good deals available if you're willing to look for them.

Top Tips for Buyers:

• Be prepared to pay more than you might have in the past
• Look for deals in areas with a lower average sold price per square foot
• Work with a trusted real estate agent to navigate the changing market

For Sellers:

It's a great time to be a seller in Fresno, with a seller's market and a lower inventory of properties available. The median sold price has increased by 5.5% from last month, and the ratio of sold price vs. original list price is at 97%, which is still a good number for sellers.

Top Tips for Sellers:

• Price your property competitively to attract buyers
• Work with a trusted real estate agent to market your property effectively
• Be prepared to negotiate, but don't be afraid to hold out for a fair price

In conclusion, the Fresno real estate market is continuing to see growth and stability in May 2023, with an increase in home prices and new listings. If you're a potential buyer or seller, it's important to keep an eye on these market trends and work with a knowledgeable real estate agent who can guide you through the process.

Are you curious to see how much your home is worth in this current market? Don't hesitate to reach out to us and request a free home valuation. Our team of experienced agents is here to help you navigate the market and make informed decisions. Let's work together to achieve your real estate goals!