Chico Real Estate Source

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

posted by ChicoTammy @ 7:26 AM