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2nd Quarter 2017 Real Estate stats for Kingsburg

On June 14th, the Federal Reserve increased its federal funds interest rate by 0.25%. They’re also widely expected to raise rates once or twice more over the course of 2017. What does this mean for the real estate market?  While any action by the Fed always garners a lot of attention, we believe these increases will not have any significant impact on our market. These increases should not have any significant impact on our market.

Looking back at the 2nd quarter of 2017, we were low on inventory, down on number of Days on the Market and high on the Price per square foot.  These numbers reflect properties that are located with the Kingsburg city limits and listed in the Fresno MLS.

Active current Listings 27 as of 7/1/17

Average DOM (days on market) 66

Average PSF (price per sq. ft.) $160

Average listed price $324,350<p>

Sold Listings, 31 from 4/1/17 to 6/30/17

Average DOM 23

Average PSF $161

Average Sold price $254,856

Harvest Moon Music Festival

Saturday, September 23rd at 3 pm to 10 pm; accumulation of popular festival activities from the past spliced together for a fun, early-Fall, evening. Swedish Village

Thank you for taking the time to read this blog.  If you have any questions, please feel free to send us your comments.  We welcome your response.

Pets or No Pets …. That Is the Question!

The buzz words for today are “Pet Friendly”.pet-friendly  According to the American Pet Products Association’s (APPA) National Pet Owners Survey, Americans now own approximately 83.3 million dogs and 95.6 million cats. That translates into nearly 50 percent of homeowners owning at least one dog and more than 45 percent owning at least one cat. And managing property is no exception.   It is difficult to rent a property that does not allow pets. Seems like 90% of renters own a dog, maybe two and cats.

Here are the standard risks from tenants who own pets:

  • Potential damage to the property
  • Physical injury to neighbors or yourself
  • Possible noise nuisance
  • Allergens and dander will get in the air ducts and carpet

And the benefits:

  • Additional income from increased rent or pet fees
  • Larger pool of tenants to choose from
  • Increased tenant enjoyment because of Fido
  • Tenants with animals seem to sign longer leases

Whether you allow pets as a landlord or do not allow them, there are ways to mitigate your risks.  Give us a call at 897-4077 to speak with Leonard about ways to mitigate these risks and become “pet friendly”.

The number of Sold properties for the month of January in Kingsburg came in at a total 8, only one less than December.  The price per square foot was the same at $148.  We’re also seeing more offers on larger, higher priced homes. The average price of the Sold homes was $335,756, which is significantly higher than the past several years.  The highest home that Sold in January was $480,000, a 5 bedroom, 3 bath, 2700 square foot home built in 2015.  It is taking about 60 days to sell a home in Kingsburg, which is pretty normal for this time of year.  We do see the real estate business picking up as we are coming into the best time of year to sell and buy.  Interest rates are still considerably low at 4.25%

Upcoming Events: 

Kingsburg Kiwanis Pancake Supper: Saturday, February 25th from 5:30 pm to 7:30 pm at the Orchard Bible Fellowship, 2400 19th Ave.  Lots & lots of silent auction items and all proceeds go to community projects and school scholarships.

Annual Car Show: April 14th & 15th, Downtown Kingsburg.  More details to follow.

Thank you for taking the time to read this blog.  If you have any questions, please feel free to send us your comments.  We welcome your response.

Looking Back At The 2016 Real Estate Market

Home prices were the one constant in the 2016 real estate market nationwide. Scant inventory and low interest rates kept the market steady.  As you can see from this 7 year chart2016-kingsburg-market-chart that indicates the number of homes Sold in Kingsburg and their average Price Per Square foot, our local market has been pretty constant too.  Looks like 2011 was the highest of the 7 years.

Our office is off to a great start this year and I hear that a couple local agents are experiencing the same thing.  The 2017 housing market should see a boost to inventory, although not significant to withstand the increase in demand expected.  And moving into the new year, the National Association of Realtors (NAR) predicts home prices for existing-homes to rise approximately four percent in the 2017 real estate market. Other sources, however, anticipate home prices to rise much more.

We are excited and proud to announce a new real estate agent, Tiffany Dix.  We have worked with Tiffany on several projects in the past and look forward to having her on our team.  We consider her professionalism and work ethic a great asset to our company.  Welcome aboard Tiffany!

The 2017 Color of the Year is Violet Verbena.  “This nuanced update on a classic shade adds depth, luxury and pampering to every space, making it the perfect backdrop for consumers looking to blend the masculine, the feminine, the mystic and the modern.”ppg_coloroftheyear_200x200



Upcoming events:

Chamber of Commerce Annual Dinner: January 26th from 6-9pm, Historical Park

29th Annual Blossom Trail: February 3rd at 10:00 am, at Kingsburg Train Depot

Annual Car Show: April 14th & 15th, Downtown Kingsburg

Thank you for taking the time to read this blog.  If you have any questions, please feel free to send us your comments.  As always we welcome your response.

Copyright 2017 Fresno Multiple Listing Service. All rights reserved. The data relating to real estate for sale on this site comes in part from the Broker Reciprocity/IDX program of Fresno Association of REALTORS. Information provided is deemed reliable but not guaranteed. Individuals are advised to verify facts that are important to them. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. Fresno Association of REALTORS does not create, control or review the property data displayed herein and take no responsibility for the content of such records. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purshasing.Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Last Updated On: 2017-08-16.

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