Fresno, CA housing market

Fresno home values barely moved over the past year, and that flat line is telling sellers something important. The typical home here is worth about three hundred sixty thousand dollars, up just 1.2 percent from a year ago. That is stability, not growth. Meanwhile homes are taking about 52 days to sell, and there are roughly 930 homes on the market, with around 460 fresh listings added in the past month. Here is the tension. The median asking price is about three hundred ninety-four thousand dollars, roughly thirty-four thousand dollars above what the typical home is actually worth. That gap explains why about 16 percent of listings, nearly one in six, have already cut their price. Put it together and Fresno is a market where values are holding but buyers are taking their time. Sellers who price at the market are moving. Sellers who price above it are sitting for nearly two months and then cutting anyway. If you are thinking about selling this summer, price for the market you have, not the one you would like.