Fresno Home Prices Down in July

"In July, home prices fell slightly from the month before, with a median listing price of $425,450. The number of listings on the market grew 25%, which is a bigger increase than normal for this time of the year in Fresno, and homes are also selling slower than at the same time last year. Typically, home prices in Fresno tend to rise in July. And the most recent data shows that the price per square foot increased by 0.1% compared with the month before."

"Fresno inventory In July, there were 727 homes for sale in Fresno-25% more than the month before and 43% more than the same time last year. And there were 426 new listings, which is 5% less than the month before and 7% less than the same time last year. Nationally, active inventory rose by 15% in July, and the number of new listings fell by 6% over the same period."

"Time on market Homes in Fresno take an average of 38 days to sell, according to July figures, which is slower than usual for this time of the year. This is two days more than the previous month and eight days more than the same month last year. For comparison, nationally homes spent an average of 51 days on the market in July."

Median listing price in Fresno in July was $425,450, a slight month-over-month decline. Price per square foot increased 0.1% from the prior month. Inventory rose sharply with 727 homes for sale, 25% more than the previous month and 43% more than a year earlier. New listings totaled 426, down 5% month-over-month and 7% year-over-year. Homes in Fresno averaged 38 days on market, two days slower than June and eight days slower than last July. Nationally, home prices fell 1.2%, active inventory rose 15%, new listings fell 6%, and the national average days on market was 51.

Read at SFGATE