Housing Watch: Housing demand continues to rise in Visalia

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Thursday, March 24, 2022
Housing Watch: Housing demand continues to rise in Visalia
Like other cities in the valley, Visalia is seeing an uptick in new home building. But it's not nearly enough to meet the housing demands of a growing region.

VISALIA, Calif. (KFSN) -- The Greystone development finishing up in northwest Visalia is a welcome sight in a city in need of more housing.

Visalia-based homebuilder San Joaquin Valley Homes is selling units just as quickly as they can build them.

"Yes, we've had waiting lists for the last couple of years," says Vice President Jim Robinson. "We still have good acceptance of our homes. The waiting list is still there but they're getting smaller due to the interest rate increases."

Robinson says the company builds about 150 homes in different Visalia sub-divisions each year.

He's noticed more buyers need office space.

"We have seen an increase and more of a desire to have offices at home and people working from home," he said. "We are seeing a few people moving here from more expensive places."

As for existing homes on the market, Chris Jolly of the Tulare County Assocation of Realtors says houses priced correctly still don't last long.

"And probably within 3 to 4 days have multiple offers, some of them over asking price," he said.

Like other Valley cities, Visalia continues to see home prices rise and they're not expected to dip anytime soon.

"Something unique that I've noticed lately is that we're seeing real high demand in the high price ranges," Jolly said.

It wasn't long ago a Visalia home listing for over $500,000 was considered high-end.

Today, price doesn't seem to be factor in some cases.

"There was a house that came on the market on Friday for $3.2 million in town, which is unheard of in our market and it was sold in a matter of a day or two," Jolly said.

The 8,800 square-foot home has four bedrooms and seven bathrooms.