Metropolitan Statistical Area (MSA):
Fresno, CA is a Metropolitan Statistical Area (MSA) comprising counties including .
The Fresno metropolitan statistical area (MSA) is located in the central San Joaquin Valley of California. The MSA includes Fresno and Madera Counties. The population of the MSA was 931,996 as of 2019, up from 899,407 in 2010.
The real estate market in the Fresno MSA has been strong in recent years, due to a combination of factors including population growth, low interest rates, and a robust economy. The median home price in the Fresno MSA was $285,000 in 2019, up from $270,000 in 2018. The number of homes sold also increased during this time period, from 5,796 in 2018 to 6,377 in 2019.
There are several reasons why the real estate market is expected to remain strong in the Fresno MSA over the next few years. First, population growth is projected to continue at a healthy rate. Second, interest rates are expected to stay low by historical standards. Finally, job growth is forecasted to be strong across a variety of industries throughout the region.
Investors are already taking note of these trends and are investing heavily in the Fresno MSA real estate market. In 2019 alone, there was over $1 billion worth of investment sales transactions completed in the market. This trend is expected to continue as more investors look to take advantage of the favorable conditions present in the Fresno MSA real estate market.