Chico Real Estate Year 2007 Stats for Area 1E; 1F
I’ll be looking at 2007 year end totals for areas 1E and 1F from the Sierra North Valley MLS this week, which encompasses the South and South East areas of Chico. The south area of Chico(1E) had a total of 58 homes sold-an increase over 2006’s total of 57. However the median price of $258,250 in this area during 2007 shows a decrease over 2006’s median of $290,000, equating a decrease in median value to just under 11%. While the average selling price of $312,071 is down about 7.5% from 2006’s average of $337,573. Of the 57 homes sold in this group there were 18 two bedroom homes with an average/median price of $217,378/$215,500; 31 three bedroom homes with an average/median price of $311,509/$264,000 and 9 four plus bedroom homes with an average/median price of $503,388/$520,000.
The southeast area of Chico(1F) closed 2007 with 82 homes sold, an increase over 2006’s numbers of 75 homes sold. The median home price in this area decreased as well, but only by a little over 3%, moving from 2006’s median of $325,000 down to 2007’s $314,500. The average price for last year ended at $320,265, down from the prior year’s average of $336,772. The three bedroom market made up the majority of homes sold in this area with a total of 66 averaging a sales price of $317,196 and a median price of $314,500. 10 four bedroom plus homes sold created the next largest quantity sold averaging $376,680 and ending with a median of $342,000. Finally the 2 bedroom market, with a total of 6 homes sold averaged $260,000, with a median of $246,500.
Currently there are three hundred twenty six active listings in the Sierra North Valley MLS within the six areas of Chico, of which, 21 are within area 1E and 44 are within area 1F.
Labels: Chico Real Estate, Chico Real Estate Market Watch
Chico Real Estate Year 2007 Stats for Area 1D
The three bedroom market in this grouping had the largest quantity of sales with a total of one hundred thirty four homes sold. With an average day on market (DOM) of 80; an average sales price of $365,562 and a median sales price of $335,000. While the four bedroom plus market ended 2007 with fifty eight homes sold in area 1D, averaging a sales price of $473,332 and 122 DOM, with an overall median sales price of $402,500. Ending with the two bedroom segment, there were a total of twenty five homes sold with an average of 55 DOM. The average price for the two bedroom market was $283,975 with a median price of $265,000.
Currently there are three hundred thirty five active listings in the Sierra North Valley MLS within the six areas of Chico, of which, eighty four are within area 1D.
Labels: Chico Real Estate Market
Chico Real Estate Year 2007 Stats for Area 1C
This week I will be taking a look at the year end results for single family residences in area 1C of the Sierra North Valley MLS, which is located in the Central west area of Chico. During the year 2006, this particular area of Chico had two hundred ten homes sold; the 2007 year end totals represent an approximate 12% decline in quantity, to end the year with a total of one hundred eighty three homes sold. The year end median during the year 2006 for this group was $322,250, while 2007 year end totals came in at $320,000, not even a full percentage point price drop. Day on the market time
(DOM) fluctuated from sixty two days in 2006 to an average of 77 days in 2007.
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During the 2007 year in area 1C, there were a total of 37 two bedroom homes sold with an average DOM of 54, average price of $257,487 and a median price of $248,000. The majority of homes sold in this group were the three bedroom market which ended 2007 with a total of ninety seven homes sold. The median price for this group was $315,000, while the averages of both price and DOM concluded at $327,455 and seventy four. Finally, the four plus bedroom market in this segment ended at a total of forty nine homes after an average DOM of ninety nine, and average price of $449,440 and a median price of $422,000. Homes currently offered for sale in all six areas of Chico within the Sierra North Valley MLS number three hundred thirty two with an average asking price of $419,314. Area 1C represents sixty six homes with an average asking price of $394,194.
Labels: Chico Real Estate
Chico Real Estate Year 2007 Stats for Area 1B
This week I will be taking a look at the year end results for single family residences in area 1B of the Sierra North Valley MLS, which is located in the Northeast area of Chico. For the year 2007 there were a total of one hundred seventy one homes sold with an average days on market (DOM) time of 74, while 2006 saw a total of two hundred seven homes sold, in total this area experienced an approximate 17% decrease in the quantity of homes sold from 2006. The year end median price for all homes located within area 1B was $301,950, the average price ended at $350,039 with an average DOM of 74. In comparison, Chico has a whole (including all six areas) experienced a year end total median price of $325,000, an average price of $358,350 and an average DOM of 82.
Out of the total of one hundred seventy one homes sold in area 1B seven were at least two bedrooms. The average DOM for the two bedroom market was 76, the average price was $259,785 and the median price was $260,000. The three bedroom market saw the largest quantity of homes sold in this group with a total of one hundred twenty. The median price ended at $285,000, while the average price was $301,655 with an average DOM of 70. There was a total of forty four 4 bedroom plus homes that sold in this area after an average of 83 DOM. The median price for 2007 was $409,965 while the year end average closed at $496,355. Currently out of the three hundred twenty five single family residences now actively for sale in the MLS, sixty eight are located within area 1B.
Labels: Chico Real Estate
Chico Real Estate Update 01/31/2008
As all real estate is local, this week and for the next couple of weeks, I wanted to break down the 2007 Chico real estate statistics for each of the six areas of Chico, beginning with area 1a of the Sierra North Valley MLS. Area 1a is located in the Northwest area of Chico. For the entire year of 2007 there were a total of 97 single family homes sold within this area. The year end average price for these homes was $396,624 and 96 average days on the market (DOM), while the median in total was $385,000. Contrary to Chico as a whole which experienced the peak median price of $345,000 in the second quarter of 2006, the Northwest area peaked in the third quarter of 2006, with a high median price at that time of $460,000. Since that time, the lowest point this segment of the market has experienced was third quarter 2007 with a median price of $352,000, which bounced right back up in the fourth quarter to $374,000.
There were only four two bedroom homes that sold in this area-with a median price of $240,000 and an average DOM of 21. The largest representation of homes sold is the three bedroom market with a total of 55. The median price in this group was $350,000 and an average DOM of 67. Ending with the four bedroom plus market, there was a total of 38 homes sold with a median price of $462,000 and an average DOM of 146. Currently, out of the three hundred thirty three active single family residences listed as active in the MLS-forty seven are in Area 1a.
Labels: Chico CA Real Estate, Chico Real Estate
Chico Real Estate Year 2007 Stats!
This week I’ll be looking at the 2007’s year end totals. Overall there were 802 single family residences sold within the six areas of Chico as documented by the Sierra North Valley MLS. This number represents an approximate 5.7% decrease in quantity over last year’s total of 851. The year’s average price ended at $358,350-the median $325,000. Looking at just the fourth quarter of 2007, we had one hundred sixty nine homes sold with an average price of $345,970 and a median price of $315,000 with an average day on the market (DOM) of 94. When comparing the fourth quarter of 2006 versus the 2007 results the average price is down 6.4% this year from the fourth quarter of 2006’s average price of $369,764. While 2006’s median price of $325,000 represents an approximate decline of 3%, Chico has overall experienced an 8.6% decline in values from the peak experienced in the second quarter of 2006.
The two bedroom market actually saw an increase in quantity of sales activity this year with ninety six homes sold over last year’s number of ninety one. The average price for all homes in this group was $255,940, the median $248,500-a decrease in value of .007% and .002% respectively. The four bedroom plus market experienced an increase in sales quantities as well with two hundred seven homes sold over the previous years quantity of one hundred ninety three. The average price dropped slightly to $472,242-an approximate 2% decline, while the median price dropped to $420,000-a 7.6% decline over last year’s totals. The three bedroom market on the other hand showed a decrease in sales quantity of about 11% for a total of four hundred ninety nine homes sold. This segment experienced a drop in average price of 6.3% to $330,807, while the median price dropped an average of just over 3% to end at $315,000.
Labels: Chico Real Estate
Chico Real Estate Market Update 01/24/2008
In the Sierra North Valley MLS covering the six areas of Chico, 1a-1f, there are 329 active single family residences available for the week ending January 18th. In total the average days on the market (DOM) is 103. All listings average an asking price of $421,582 while the median asking price is $354,950. During the time frame of January 12th through the 18th there were twenty two new listings added to the database with a low asking price of $228,900 for a two bedroom, one and a half bath home with 1,316 square feet. The home representing the high range with an asking price of $729,000 is a four bedroom, three bath home totaling 3,000 square feet. In total, these twenty two new listings create and average asking price of $394,831 and a median of $379,000.
Eleven homes began the escrow process during this time as well after an average of 105 DOM. Beginning with the lowest priced home in this group-a three bedroom, one bath home with 1,256 square feet and an asking price of $149,900, entered escrow after two hundred eleven DOM. The highest price home in this segment was a four bedroom, two and one half bath home totaling 2,203 square feet, which began the escrow process after three hundred twenty five DOM. In total, these homes represent a median price of $259,000 and an average asking price of $260,690.
There were five homes this week that successfully closed escrow with an average selling price of $368,400 and a median price of $340,000 and average DOM of forty six. With an original asking price of $319,900-the lowest priced home in this category-a three bedroom, two bath home with a total of 1,731 square feet, closed after 16 DOM and a final selling price of $305,000. The highest priced home in this group, with an original asking price of $489,000 closed escrow after ninety six DOM for $452,000-this home had a total square footage of 2,307 with four bedrooms and three bathrooms. In total all homes received approximately 93.3% of their original asking prices.
Labels: Chico CA Real Estate, Copy for News and Review
