Clovis June Market Report
As our lifestyles evolve, it is natural for our needs for housing to evolve too. You may start to find your home is too big and requires too much maintenance. Or the idea of freeing up capital to explore a new chapter of life sounds appealing. At that point that is usually when you decide it is time to move. But, of course, you have worked hard to maintain your home and you want to make sure you are capturing every bit of equity you have earned.
For most of us, our homes are the largest asset we will ever own—so you are right to want to understand this asset and the market you are in. As you consider selling, you deserve the insight and guidance of an expert in your local market. Here are the top things to know about the Clovis area real estate market right now:
Median Sales Price Continues to Climb
Median sales price here in the Clovis area continues to climb from $539,000 to $577,000 in the last year, which is a 7.1% increase. Homes that are properly priced and positioned on the market are selling at about 99% of the list price. When you price correctly on day one you can maximize offers and sell for the highest possible price as quickly as possible.
Days On Market Are Increasing
Median days on the market are up for the year, 57.6 % YTD, compared to 50%, YTD May 2023. Months of inventory are up from 1.2 months in 2023 to currently 2 months of inventory today. As the market is starting to equalize, this further demonstrates the need for precise strategy with pricing and marketing to ensure your home sells for top dollar in the fewest days on the market.
We Continue to See Homes Sell with Multiple Offers
The market is still quite active. With the right strategic plan, pricing, and positioning for your property and your goals, we can attract maximum offers and get your home sold for the highest possible price in the fewest days on the market.
As a homeowner, what does this mean for you?
If you are thinking about selling in the next 12 months, now is the time to start preparing for the market.
Selling any asset, let alone a home, requires having the right strategy in place. I am a firm believer selling a home should be exciting, not stressful. With the help of my team and network, we will help you sort through, stage, and market your home for the best return on your investment. Not only do we support you on the journey to maximizing your home sale, but we also work diligently to find you a home that makes sense and helps you live your best life so you can enjoy stress-free living.
If you are thinking about selling your home in the next 12 months, call me today for your Strategic Marketing Consultation → 559-960-1538
We will cover your goals and my unique approach to getting you the highest possible price in the fewest days on market.
Call Today → 559-960-1538
Mandy Herring
License # 01444050
Fresyes Realty Group brokered by Real Broker
www.MandyHerring.com
[email protected]
559-960-1538
Clovis Area Market Highlights
| Single-Family Home Stats | YTD 2024 vs. YTD 2023 | Analysis |
| Median Sale Price | ↑ Up 7.1% | The median sale price is now at $577,000 up 7.1% from $539,000. When you price correctly from day one, you can maximize offers and sell for the highest possible price as quickly as possible. |
| Median Days on Market | ↑ Up 57.6 | Median days on the market are up for the year. As demand has decreased, this further demonstrates the need for precise strategy with pricing and marketing to ensure your home sells for top dollar in the fewest days on the market. |
| Sale-to-List Price Ratio | ↓ Down 1% | Homes that are properly priced and marketed are getting near list price. For those who overpriced their homes, they are facing the reality that it will take even longer to sell and go through even more price reductions. When you start with expert strategy, you can sell within a brief time. |
| Price per Square Foot | ↑ Up 8.5% | Demand in Clovis is on the rise, and price per square foot is now at $267 per sq. ft. for the year, compared to $245 per sq. ft. in 2023. To maximize your results, it is extremely important to have a proven strategy and expert guidance from the beginning. |
| Months of Inventory | ↑ Up 68.9% | As the number of properties listed on the market has finally caught up to demand from buyers, the market is starting to equalize, further highlighting the importance of correctly pricing and positioning your home from the beginning so you can get top dollar as “best in class” rather than languishing on the market. |
Source: Fresno Multiple Listing
[Note: The “Looking Ahead” section will only fit on the 11×17 size, which is our top recommendation. Here is a sample of copy for that section.]
Looking Ahead
Here is what we will be watching over the coming months:
- Low Supply of Available Homes
Clovis had low inventory in May, due to the increase in activity, and there is no telling when it will slow down. With inventory low and the median sale price steadily increasing—up 7.1 % May year-to-date compared to May YTD 2023—sellers who work with an expert to properly position themselves on the market can expect to secure a nice return.
- Buyers Are Eagerly Searching
Buyers are eager to scoop up the available inventory. The days on market were only 33 days YTD, an increase of 11 days from 22 in May YTD 2023. With inventory as low as it is, it is an exciting time to sell. Regardless of what twists and turns the market takes, to truly maximize your return on investment, it is crucial that you strategically position your home to buyers.
- Continued Growth in the Clovis Area
As Clovis develops, we will continue to see property values increase. Here are a few things to note:
- As of May 2024, Livability ranked Clovis one of the top hundred best places to live in the United States and tied it at number 48 with cities like Lincoln, Nebraska and Salt Lake City, Utah.
- Niche also ranked Clovis as one of the most diverse suburbs in California, as well as one of the best suburbs for raising a family and for public schools.
- Clovis is known for its small-town charm and amenities and is a popular location for both residences and businesses.
- What to Expect When Selling Your Home
The market consistently evolves–and you deserve to sell for the highest possible price no matter what. The right marketing strategy, pricing knowledge, and negotiation power are what make the difference when you are ready to sell your home and embark on what may be one of the largest financial transactions of your lifetime.
If you are thinking about selling your home in the next 12 months, call me today for your Strategic Marketing Consultation → 559-960-1538