Action News talked to family members who called 9-1-1 soon after they saw the incident.
Candice Doherty, her husband and their three children were shaken up over Tuesday night's stabbing on Christmas Tree Lane.
"I just saw a guy who was in shock and looked like he got stabbed and then he stumbled over to the corner and everyone was calling 911," said Candice Doherty. "I was scared, I was scared for my kids so I moved and pulled everyone to the side after I called 911."
Candice says the fight began as a scuffle before it escalated. Her son Nate saw the victim soon after the stabbing.
"He said, oh this guy just stabbed me and he lifted up his shirt and he showed his friends and then he stumbled and his friend caught him and laid him down right after that," Nate Lund said.
Investigators say they saw the two suspects run away and detained them a short while later about two blocks away. One suspect was later released. The other suspect was booked on unrelated charges.
Sgt. Brent Stalker said, "Because of the fact that we had so many out here, we actually had a few deputies who saw the suspects running."
Detectives tell Action News this was a very unusual incident for the area and for this event.
Sgt. Brent Stalker said, "I still believe it's very safe, even though we had this tonight, we didn't have anybody else hurt."
But Candice Doherty says the incident will make her more careful during the annual family tradition. "It does make you a little weary a little cautious when you do come."
The Fresno County Sheriff's Office says the victim was taken to Community Regional Medical Center. There is no word on his condition at this time.