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Clovis Real Estate News

December 30th, 2009

Clovis Homes – 2009 Market Report

Clovis CA Homes for Sale Real Estate Market Report

Clovis Homes 2009 Market Report

It’s been a topsy-turvy year in Clovis real estate.  Clovis foreclosures and Clovis homes priced under $250,000 sold practically overnight, whereas homes $400,000 and above took months to sell (if they sold at all).  Below is Clovis Real Estate’s Clovis Homes Annual Market Report for 2009.  We suspect several Clovis home statistics may suprise you.  Some even suprised us.

Clovis Homes Market Summary

The median Clovis home sold in 2009 looked like this: 

  • 3 bedroom 2 bath
  • 1880 sq. ft. 
  • $239,900 (listing price)
  • $238,000 (sales price)
  • 47 days to sell

What was the most expensive Clovis home sold in 2009?  A 6 bedroom, 7 bath, 9,195 sq. ft. Clovis luxury home that sold for $2.3 million.  And what about the least expensive Clovis home sold in 2009?  A 1 bedroom, 1 bath, 573 sq. ft. Clovis home that sold for $4,800.

Clovis Homes for Sale

The number of Clovis homes for sale compared to last year is up slightly. A year ago, there were 351 homes for sale in Clovis.  Today, there are 371 Clovis homes for sale.  How many Clovis homes will sell in 2010?  If it’s anything like last year, it will be another banner year for Clovis home sales.  A whopping 1335 Clovis homes were sold in 2009.

This is a bit of good news for both Clovis buyers and Clovis home sellers.  There’s still an ample supply of Clovis homes for sale which means Clovis buyers are still in the driver’s seat and have plenty of Clovis homes to choose from.  However, an average of 3.6 Clovis homes sold every day in 2009.  In fact, if a Clovis home is priced well, it will sell – and very quickly.  For example, 44% of Clovis homes sold within 30 days in 2009.  That’s a positive sign if you’re thinking about selling your Clovis home.  But if you don’t price your Clovis home correctly, your Clovis home will sit on the market and decrease in value very quickly.  Overpriced Clovis homes don’t sell in any market, much less the current bargain-driven Clovis market. 

Number of Days to Sell a Clovis Home in 2009

  • 30 days or less:  44%
  • 31 – 60 days:  19%
  • 61 – 90 days:  11.75%
  • 91 days + :  25%

Clovis Home Prices Drop in 2009

Not surprisingly, Clovis home prices have decreased 8.9% from a year ago, to a median Clovis home sales price of $238,000.  It’s still too early to tell whether Clovis home prices have bottomed out.  However, the worst appears to be behind us.  Clovis home prices have increased month-to-month since early summer (e.g., prices increased 1.5% from September to October).  Barring another collapse in the economy, we could see the first Clovis homes price gains in several years in mid-2010.  Keep an eye on interest rates and the jobs report over the next several months, that data will go a long way in determining the status of the Clovis housing market.  

 Clovis Homes Sales Price – 2009 Month-by-Month Clovis Homes prices

Clovis Homes Selling Faster

Clovis homes are starting to sell faster.  On average, 63% of Clovis homes sold within 60 days.  Bargain-priced Clovis homes sold even faster.  For example, most Clovis foreclosures sold in just a few days as buyers and investors swarmed over these bargain-priced homes.  There’s no reason to suspect it will be any different in 2010. 

2010 Clovis buyers can learn this from 2009 buyers:  Clovis foreclosures and any Clovis home priced under $250,000 will typically receive multiple-offers (some as many as 15 to 20 offers).  In fact, Clovis home buyers looking in this price range should expect to pay the asking price or slightly above the listing price since there are so many buyers in this price point.  You can still get a bargain-priced Clovis home, just don’t expect to buy a Clovis home priced $250,000 for less for less than the asking price.

Clovis Homes in 2010

There are currently 371 Clovis homes for sale, including 878 Clovis homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process.  The current average listing price for Clovis homes is $377,444.

If you would like to receive an automated email of all 2010 Clovis foreclosures, just fill out the form below.  We’ll send you all current Clovis foreclosures and then automatically email you any new Clovis home that comes on the market so you can start your 2010 Clovis home search off right.  You can also learn how to buy a Clovis foreclosure here or read our Clovis foreclosure tips (not every Clovis foreclosure is a good deal).

FREE List Clovis Foreclosures!

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Clovis Homes Market Summary

Until Clovis home prices begin to increase again, it’s still a Clovis buyer’s market.  Nothing indicates this will change in the first few months of 2010. Plus, banks are still holding onto a number of foreclosed Clovis homes and depending on when (and if) they release them, the Clovis real estate market will remain soft.

What does all of this mean to you? If you’re thinking of buying a Clovis home in 2010, low prices, great interest rates, and thousands of dollars in tax incentives still make this a great time to buy.  If find a Clovis home you love and it’s well-priced, our advice is to buy.  Clovis home prices and interest rates are expected to increase in 2010.  So don’t wait too long and miss out on what some experts are calling the best time to buy a Clovis home in the past 20 years.

Selling your Clovis home is still a challenge, but if it’s priced right and marketed well there are plenty of Clovis buyers out there. The 1335 sold Clovis homes last year proves that.

If 2010 is the year you hope to sell or buy a Clovis home, let us know. We’ll help you reach your home goals.

Clovis Realtors

Real estate information is only good if you know how to use it to your advantage.  At Clovis Real Estate we not only know the Clovis housing market data, we know how to make it work for you. Whether you’re buying or selling your Clovis home, let us help you get the best possible price on a Clovis home. We’re not just any Clovis Realtor, we’re Clovis Experts.  Just fill out the form below and let us help you reach your Clovis housing goals.

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Clovis Real Estate − "The Clovis Home Experts"

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This entry was posted on Wednesday, December 30th, 2009 at 8:14 PM and is filed under Buyer Info, Current Home Values. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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Clovis Real Estate – The Clovis Experts