We are past the halfway point of 2019, with only a few months remaining before the new year rolls in. You may be wondering how the Central Valley housing market doing so far. It could be that you’re planning to buy or sell your home, or you’re simply interested in market updates.
Let’s take a look at the market’s overall performance, then dive deeper into the numbers.
California snapshot: July 2019
According to data collated by the California Association of Realtors, California did particularly well in the first half of this year. With July 2019 sales recorded at 411,630 units, this marks the first yearly gain of the market in 15 months.
- Sales in the Bay Area decreased. Nonetheless, the trend continues to go upward.
- Sales in Southern California spiked. The market saw an increase of 3.9 percent.
- Sales in Central Valley surged. Of the three major California markets,
Central Valley saw the biggest increase in sales, recorded at 5.2 percent. Of the 411,630 units sold in California in July 2019, 46 percent of these were in Southern California, 23 percent in the Central Valley, 19 percent in the Bay Area, 4 percent in the Central Coast, and 8 percent in other counties. Because of the increase in sales in the market, the housing inventory decreased. Active listings dipped in Southern California and Central Valley in particular, resulting in a drop of 6.0 and 8.9 percent, respectively. Meanwhile, the Bay Area and the Central Coast saw an increase in active listings.
A closer look on Central Valley real estate: July 2019
As you read earlier, Central Valley had the biggest increase in sales in July 2019. Let’s see how much these homes sold for.
In July 2019, homes in Central Valley had a median sold price of $345,250, which is 1.5 percent more than the recorded median sold price from June 2019. This is also significantly higher than the median sold price from July 2018, which marks the 5.2 percent increase, not just in sales.
- In Merced County, the median sold price from July 2019 was $283,000.
This is 2.1 percent lower than the median sold price from June 2019 ($287,000). The median sold price grew by 5.8 percent from July 2018, however. Sales in Merced County also saw an increase of 20.4 percent month-to-month and 7.8 percent year-to-year. - In Madera County, the median sold price increased from $291,250 in June 2019 to $297,500 in July 2019, representing a growth of 2.1 percent. When you look at the year-to-year change, the increase becomes even more significant, as the median sold price jumped from $250,000 in July 2018. That’s a 19 percent boost. As for sales, Madera County dipped by -3.9 percent from June 2019. Still, all is well, as the sales grew by 17.9 percent year-to-year.
- In Stanislaus County, the upward trend continues. The median sold price
grew from $325,000 in July 2018 $325,500 in June 2019 to $335,000 (3.1 percent and 2.9 percent change, respectively). Stanislaus County also performed well in sales, recording a 16.4 percent increase from June 2019 and a 5.7 percent year-to-year change.
Things are looking good in Central Valley, CA
Now is the perfect time to buy or sell a home in Central Valley. Browse our website today to look at the latest property listings for sale in Merced County real estate.