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Kingsburg Real Estate 2018 Recap & 2019 Forecast

Kingsburg Real Estate 2018 Recap:

Here’s look back at the real estate market in Kingsburg in 2018.  Sales were soft, but the average price point continues to rise moderately. The total number of homes sold within the city limits dropped to 114 for 2018 as compared to 128 in 2017.  The average Price per Square Foot (PSF) came in at $170 PSF versus 2017 at $160 PSF.   Bottom line is that we still have a lack of inventory, which kept the number of sales down. The steady increase in interest rates could also have been a factor.  The Kingsburg market is rather unique in that is still a very desirable place to live.

2019 Forecast:

Due to the continued lack of inventory and mortgage rate increases, it looks like 2019 will be much the same thing as 2018.  The rate of growth on the value of homes will probably maintain a steady upward trend, which is good for the market and the economy. Spikes in growth can lead to the same type of market crash that started in 2006. Mortgage rates will continue to sideline buyers who have lost buying power as interest rates have risen over the past couple years.

New construction:

Kingsburg is experiencing a boom in new construction and developers are scrambling to capture some of the “move-up” market. It usually takes about 2 years from the time they first move dirt to the time they hand the keys to Buyers.  Below is a list of current developments in the planning process with the City of Kingsburg.

  • 18th & Kamm, Tract 6122, 80 units, Tract 6242, 59 units, Tract 6167, 121 units
  • Kamm & Academy, north east, Tract, 5073, units 39
  • Kamm & Academy, south west, Tract 6141, 44 units & Tract 6151, 64 units
  • Madsen & Ave 392 (Tulare County), number of units unknown

If you are interested in obtaining a color copy of the new subdivision map, please email me at judy@housingconnection.net and I will be glad to forward a copy to you.

Parting thoughts:

These days, Real Estate’s focus is very local, down to the neighborhood.  This is known as “Hyper-Local”.  Knowing your community & neighborhood, and keeping up with the what’s happening, keeps your agency knowledgeable and tuned into your market.  For decades The Housing Connection’s success has been a product of our hyper-local approach.

AND, as always, we welcome any comments you  might have.  ALSO, all our best wishes for a safe, happy and prosperous 2019.

2017 in Review!

In looking back at the past year, we saw a steady growth in the real estate market here in Kingsburg. In 2017 we sold a total of 128 homes within the city limits.  In 2016 we sold 115 and the previous 4 years also showed an  upward growth pattern.  We continue to experience very low inventory and low interest rates.  It is taking less time to sell homes and the average sales price has increased slightly also.

We hear that the housing market forecast for 2018 is expected to be somewhat the same; slow growth, low inventory and low interest rates.

Our current available inventory of Active Kingsburg listings is very low at 17 homes for sale. However, we had 23 homes that Sold and closed escrow in the past 90 days. In talking to other local agencies, we all experienced a busy November and December, when normally, these two months are pretty slow.

The launch of our new mobile platform property management system went very well and we are off to a good start for the upcoming year.  It is so awesome to be able to receive and deposit rents from any mobile device.  They say that we can operate our property management division from the beach in Maui, but I am not sure if we will be able to do that.  Although it sounds pretty neat!

Upcoming Events: 

Communities of Compassion and Courage Exhibition: On going until February 5th at the Kingsburg Historical Park. For more information regarding hours of admittance please visit:  http://kingsburghistoricalpark.org/event-item/communities-of-compassion/

Chamber of Commerce Annual Dinner Thursday, February 15th at 6:00.

Kiwanis Pancake Supper Saturday, February 24th from 5:30 pm to 7:30 pm at Orchard Church on Stroud.

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.

Annexation and an update on Kingsburg subdivisions

Annexation:  What is it?  Annexation is the process by which property is incorporated into the City of Kingsburg from unincorporated Fresno County.  The property must be located within Kingsburg’s Sphere of Influence and approved by the Fresno Local Agency Formation Commission (LAFco).

Currently there are 4 parcels in Kingsburg’s Sphere of Influence that are in various stages of the above annexation process.  All 4 plots of land are located north of Stroud; two on 10th Avenue and two on 18th Ave.  At this time, it is speculation as to what type of homes will be built and the time frame involved.  But just note that it looks like we have some new development in the works, hopefully soon.

Our current available inventory of Active Kingsburg listings is still low at 25. Only 14 homes Sold and closed escrow in the past 90 days. The 3rd quarter of the year is typically busier than it was this year.  To put it in perspective, in 2016 we sold 22 homes within the same time period.  One would think that with the inventory so low with not much availability, we would have sold more homes.  And now the market is starting its traditional slowdown as we head into fall and the holiday season.

Upcoming Events: 

Vintage Hollywood Ladies Night Out: Thursday, November 2nd from 5:30 pm to 8:30 pm in downtown Kingsburg.

Julganfest: Friday, November 24th from 6:00 pm to 8:pm in downtown Kingsburg.

Santa Lucia Celebration: Saturday, December 2nd from 10:00 am to 7:00 pm in downtown Kingsburg.

On a personal/family note:  2017 marks the 30th Anniversary of a day our family calls our Annual Bake Day.  Every year the day after Thanksgiving, my son Damon and I get together and bake cookies, breads & goodies (along with just about anybody that wants to stop by and help stir or eat).  We flash freeze these immediately and 2 weeks prior to Christmas, we put together trays of these goodies and give them as gifts to family and friends. This day is so precious to my son and I and it has grown into quite a family tradition.  30 years is a long time!

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.

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