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Cynthia Chakurian-Lum
Cynthia Chakurian-Lum Realtor

CALBRE#01329008
Guarantee Real Estate
559-287-8973
Contact Me

Real Estate Market Report for April 2016

The value of real estate and the ability to get homes sold quickly are affected by supply and demand. When there is a small supply of homes relative to the demand by buyers, sellers may be able to ask more for their properties. When there is a large supply of homes relative to the number of people in­terested in buying, sellers can do a number of things to ensure they get the best price for their homes.

 

Sellers should:

• Be knowledgeable about the condition and price of similar homes that are available for sale.

• When determining an asking price, consider more closely the homes available for sale now rather than homes that sold in the past.

• Consider paying loan discount points to lower a loan’s interest rate, making the loan payment more affordable.

• Make minor repairs prior to allowing buyers to see the home.

• If major repairs can not be made prior to putting the home on the market, notify buyers that repairs will be made in escrow or that a credit for repairs is being offered.

• Make certain the home is clean and uncluttered.

• Make certain their real estate broker uses numerous methods of advertising to attract poten­tial buyers.

• Consider offering to pay buyer’s closing costs, making it possible for buyers with little cash to purchase the home.

• Offer to pay for a home warranty for the buyer.

 

The following statistics from the Fresno MLS indicates that compared to one year ago:

1. The inventory of homes is significantly lower.

2. There have been more homes sold.

3. It is taking slightly less time to sell a home.

4. The number of homes that have been listed for sale but did not sell within the listing period has increased slightly (expired listings).

 

The current year median sales price trend indicates a stabilization in prices.

 

Jan 2015

Jan 2016

Feb 2015

Feb 2016

Mar 2015

Mar 2016

Number Home for sale

2775

2586

2611

2626

2849

2555

Number of Sold

549

657

651

692

872

847

Days on be for selling

63

54

58

53

59

55

Number of expired

146

213

192

178

201

186

Median sales

208,000

205,000

205,500

205,000

211,350

225,000

 

These are all indicators of a stabilizing market.  Cynthia Chakurian is your best resource for helping you sell your home for top dollar in the shortest amount of time.


Cynthia Chakurian-Lum Realtor | 559-287-8973 | Contact Me
CALBRE# 01329008
3 River Park Plc East - Fresno, CA 93720
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