A recent Fresno Bee article explored a question many buyers are asking today. What does one million dollars actually buy in Fresno?
Not long ago a million dollar home in Fresno meant a true luxury estate. Today the answer is more nuanced. While Fresno is still far more affordable than coastal California markets, the number of homes crossing the seven figure mark has steadily increased.
The Fresno Bee highlighted several properties currently on the market that show how far one million dollars can go in the local housing market.
Here are a few examples.
Example 1 605 E Home Ave Fresno CA 93728
This home offers:
5 bedrooms
5 bathrooms
5,001 square feet of living space
A 0.34 acre lot
Asking price of $825,000
The property sits on a corner lot at Echo Avenue and Home Avenue in an area known as Wilson Island. The location is less than a mile from both Fresno City College and Fresno High School which places it right in the heart of one of Fresno’s most historic neighborhoods. At just over 5,000 square feet it meets the traditional definition of a mansion while still being priced under one million dollars. Homes of this size at this price point are extremely rare in California.
Example 2 4872 N Arcade Ave Fresno CA 93704
4 bedrooms
2 bathrooms
3,055 square feet
0.34 acre lot
Asking price $1.1 million
This home is located in Old Fig Garden Estates just a short walk from Fig Garden Village. The property is described as a Modern California Ranch style home with a natural wood interior throughout the house including the flooring, ceilings, walls, and cabinetry. Homes in Old Fig Garden continue to attract buyers looking for large lots, mature trees, and classic Fresno architecture.
Example 3 1368 E Waldon Way Fresno CA 93730
4 bedrooms
3 bathrooms
3,084 square feet
0.30 acre lot
Asking price $1.1 million
This property is located in Country Club at the Fort, a gated neighborhood near Fort Washington Golf and Country Club in North Fresno. The home is a custom build by Gary McDonald and sits on a large lot along a quiet cul-de-sac street. While it is smaller than what would traditionally be considered a mansion, the home includes a number of high end design details.
Example 4 14505 Blue Drake Lane Prather CA 93651
6 bedrooms
4 bathrooms
4,074 square feet
5.05 acres
Asking price $1.1 million
Located about thirty five minutes from downtown Fresno, this Prather property shows what buyers can find when they move outside the city. The home sits on more than five acres and offers significant curb appeal along with sweeping views of the surrounding landscape. While the home falls about one thousand square feet short of the traditional 5,000 square foot mansion threshold, the property offers something many buyers value even more. Land.
There are several reasons why million dollar homes are appearing more frequently in Fresno. First, demand continues to grow from buyers relocating from higher priced markets such as the Bay Area and Southern California. Many of these buyers arrive with larger housing budgets and quickly realize that Fresno offers much more home for the money. Second, new construction costs have increased significantly in recent years which has pushed the price of larger custom homes higher. Finally, Fresno itself has grown. Neighborhoods like Copper River, Woodward Park, and parts of Clovis have developed into true luxury housing markets with homes regularly approaching or exceeding the one million dollar mark.
The Big Picture
Even as prices rise, Fresno still offers something that many California cities cannot. Space. For roughly one million dollars buyers here can still find homes with large square footage, outdoor living areas, and family friendly neighborhoods. In many coastal markets that same budget might only buy a small townhouse or condo. For families relocating to the Central Valley the value difference is often surprising. And it is one of the reasons Fresno continues to attract new buyers from across California.
Thinking About Buying or Selling in Fresno
If you are considering buying or selling a home in Fresno or Clovis and want to understand what homes are really worth in today's market, feel free to reach out. If you are exploring the higher end market, you can also browse my current Fresno luxury homes for sale.
Paul Singh
Fresno and Clovis Real Estate
