Tulare Real Estate Market Healthy, Not Hot

Tulare Real Estate Market Update – February 2025

What buyers and sellers need to know right now

If you're watching Tulare’s housing market, here’s what’s happening. Prices are holding steady, homes are still selling, and interest rates are adding pressure to monthly budgets. Whether you're buying your first home or thinking about selling your current one, the data from February offers useful signals.

For Buyers: What You Can Expect in Today’s Market

Interest rates are averaging 6.84%. That’s a bit lower than last month (6.96%) but still well above where we were a year ago. This impa
cts how much home you can afford—and what you’ll pay each month.

Here’s a breakdown of what homes cost right now in Tulare based on size:

2-Bedroom Homes

• Homes for sale: 10
• Median price: $233,000
• Monthly payment (20% down): $1,490
• Monthly payment (3% down): $1,749
• Estimated down payments: $47K (20%) or $7K (3%)

3-Bedroom Homes

• Homes for sale: 51
• Median price: $367,000
• Monthly payment (20% down): $2,344
• Monthly payment (3% down): $2,753
• Estimated down payments: $73K (20%) or $11K (3%)

4+ Bedroom Homes

• Homes for sale: 53
• Median price: $457,000
• Monthly payment (20% down): $2,919
• Monthly payment (3% down): $3,428
• Estimated down payments: $91K (20%) or $14K (3%)

There are no one-bedroom homes listed right now, which is common in Tulare, where most buyers are families or move-up buyers looking for more space.

What this means for you:
If you're shopping with a lower down payment, your monthly costs will be noticeably higher. For example, buying a 3-bedroom home with 3% down adds over $400/month to your mortgage compared to a 20% down scenario.

Inventory is strongest in the 3–4 bedroom range. You've got options, but expect competition on homes that are priced right and in move-in condition.

For Sellers: Prices Are Strong, But Buyers Are Price-Sensitive

Let’s talk about what’s happening on the seller side:

• Price per square foot:
• Average: $232
• Low end: $158
• High end: $400
• Average days on market: 29 (down 9% from last month)
• Pending sales: Down 2%
• Closed sales: Up 8%

That’s a mixed bag. Homes are selling slightly faster, and more are closing, which is good. But fewer deals are going into escrow, which suggests buyers are hesitating—likely due to affordability concerns tied to interest rates.

If you're planning to sell soon:

• Pricing correctly from the start is key. Buyers have options and aren't rushing into bidding wars.
• Expect more questions and longer decision times unless your home is in excellent condition or priced below the median.
• Highlight features that offer value—solar panels, newer HVAC, remodeled kitchens, or proximity to parks and schools.

Big Picture: What Buyers and Sellers Should Know

• The market isn't in a slump. Homes are still moving, especially if they're priced right.
• Buyers are active but cautious. Monthly payments are higher than many expected, especially for entry-level buyers using low down payment loans.
• Sellers are in a good position, but only if they're realistic. Overpricing or skipping repairs is a gamble that could cost you time and money.

Final Word

Tulare’s real estate market isn't hot, but it's healthy. It's the kind of market where good preparation makes a big difference—whether you're buying or selling.

Thinking about making a move this spring? I can help you break down your numbers and put together a game plan that fits your situation.