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
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.