May Update: Fresno Buyers: Your Market Just Got Better
A Buyer’s Market Strengthens in Fresno
The Fresno County housing market is now firmly a buyer’s market, with more homes for sale and sellers offering concessions. Listings are up over 33% compared to last year, with 37% of homes for sale seeing price reductions
Homes are sitting longer on the market, giving buyers more negotiating power
Despite the slowdown, most sellers are still willing to cover buyers’ broker fees
The scales tipped in favor of buyers even as mortgage rates have remained elevated. Many experts anticipated rates would drop more significantly by now, but uncertainty in the U.S. economy has kept them high, currently hovering around 6.6%.
Why it matters to you: With more homes on the market and fewer buyers, you have the upper hand as a buyer—while sellers need to adapt to the shifting dynamics. The City of Fresno was recently ranked as the 4th most affordable in California, so affording a home here is much better than the rest of the state.
What’s next: The market’s trajectory hinges on economic stability and potential rate relief. For now, buyers can take advantage of increased options and seller concessions.
What This Means for Buyers and Sellers
Buyers: If you’ve been putting off buying a home, now is the time to start looking again.
More inventory and price reductions create a prime opportunity to shop around.
With homes lingering longer, you can negotiate better deals. Sellers are also offering more concessions—nationally, 44.4% of U.S. home sales in Q1 2025 included concessions, up from 39.3% last year, per Redfin, as high prices, rates, and economic uncertainty dampen demand.
Sellers: Competition is stiff with listings at a five-year high.
Pricing realistically is crucial, and offering concessions may help attract buyers.
The market has strongly favored sellers since the pandemic, but that’s now changing.
Fresno County Market Update
The Fresno housing market reflects the buyer-friendly shift. The median home price dropped to $435,000, down nearly 2% from $442,850 in March. Still, prices are up 5% year-over-year.
Home sales are down over 9% compared to last year, signaling a cooling market
Listings have surged, with 33% more homes on the market than last May