How’s the Market? What’s my Home Worth? How much should I sell for? Common questions for the Fresno / Clovis Homeowner. Here’s how to find the right answer!
Warning: This post may contain just a little Star Wars lingo. 😉
I’m not a big fan of statistical real estate market reports that encompass a whole city, county or state because real estate is local. It can be interesting to see how a market is performing as a whole but I see very little value in showing the home owner who lives near Bullard High School how much similar sized homes have sold for in all of Fresno. Homes near historic Fresno High, Fig Garden, River Park, and the Tower District have very little in common. Each neighborhood is different in so many ways; the architecture, the shopping options, the dining options, the schools. Yet every month my inbox is filled by my friends who are also real estate agents with the same ‘how many homes sold’ in Fresno County this month, quarter, etc. I don’t hold it against them, it is the same info they were sent for years before becoming agents… it’s all they know.
When I am asked “How is the market?”, and I am asked often. My go to answer is, “it depends on where you live”. I love to really drill down on the data available to me and then ask ‘why’. Why did this home sell for so much more than the others or why did it take this home 200 days to sell versus the neighbor’s home that sold in 43? If the data is for some reason not available to me, I will go knock on a door or pick up the phone to get answers for my client… I’m borderline obsessive about it.
Since I don’t know where in Fresno or Clovis you live, please forgive my somewhat broad approach to giving you something interesting and hopefully of value.
The most expensive home for sale:
17681 Tollhouse Road, Clovis, CA 93619 – commonly known as “The Heinrich Ranch” offered at a whopping $11,900,000.00 A 6 bedroom, 7 bath, 9528 square foot gem on over 1961 acres
The least expensive single family home for sale:
1136 E. Grove Fresno, CA, 93706 – Commonly known as a “fixer-upper” offered for cash only at $40,000.00 A 2 bedroom, 1 bath, 1111 square foot home resting on a 7128 square foot lot.
Home most resembling Jabba’s Sail Barge:
VALUE BY ZIP CODE IS OK
While I think zip codes are still far too large of an area to give you an idea of what your home may be worth it still may be interesting to you to see how many homes around you are for sale or have sold.
Approximate number of existing single family homes reported available for sale in the Fresno MLS as of July 20, 2014
[pullquote]Why did this home sell for so much more than the others or why did it take this home 200 days to sell versus the neighbor’s home that sold in 43?[/pullquote](in a handful Fresno and Clovis zip codes)
93703 – 34 93704 – 87
93705 – 58 93710 – 34
93711 – 151 93720 – 128
93722 – 160 93726 – 42
93727 – 109 93728 – 43
93730 – 62 93611 – 129
93612 – 38 93619 – 200
Approximate number of existing single family homes sold this year, as reported in the Fresno MLS on July 20, 2014
(in a handful Fresno and Clovis zip codes)
93703 – 121 93704 – 161
93705 – 153 93710 – 132
93711 – 192 93720 – 248
93722 – 406 93726 – 164
93727 – 349 93728 – 84
93730 – 89 93611 – 298
93612 – 99 93619 – 302
BUT VALUE BY ‘HUMAN’ IS BETTER!
If you are a home owner and are considering selling, I cannot stress enough the importance of requesting a comparable market analysis for your own property, one that compares similar properties in the near vicinity of your home.