In November, home prices fell slightly from the month before, with a median listing price of $423,925.<\/p>\n
The number of listings on the market remained practically unchanged from last month, but it 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.<\/p>\n
Home prices in Fresno<\/p>\n
Typically, home price per square foot in Fresno tend to rise in November. But the most recent data shows that the price per square foot decreased by 0.6% compared with the month before.<\/p>\n
So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 1.2%, which means price changes in the Raisin Capital are smaller the national market.<\/p>\n
Fresno inventory<\/p>\n
In November, there were 904 homes for sale in Fresno, which was 0.2% more than the month before and 22.7% more than the same time last year.<\/p>\n
Meanwhile, active inventory across the nation fell by 2.5% from last month to 1,072,266.<\/p>\n
The number of new listings in Fresno was 360, which was 21.4% less than the month before and 2.3% more than the same time last year.<\/p>\n
Nationally, the number of new listings fell by 14.1% from last month to 330,908.<\/p>\n
Time on market<\/p>\n
Homes in Fresno take an average of 50 days to sell, according to November figures.<\/p>\n
This is one day less than the previous month and four days more than the same month last year.<\/p>\n
For comparison, nationally homes spent an average of 64 days on the market in November.<\/p>\n