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.
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.
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 email@example.com and I will be glad to forward a copy to you.
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.