Chico Real Estate Source

Chico Real Estate Update 01/03/2008

For the week of December 15th through the 21st there were three hundred forty four active single family residence listings in the six areas of Chico within the Sierra North Valley MLS. The median price of these listings was $359,000, while the average asking price was $430,405 with combined average days on the market (DOM) of one hundred twelve. During this period of time twelve new listings were added with an average price of $330,566 and a median price of $268,450.

Fourteen homes began the escrow process this week as well after an average DOM of one hundred thirty seven. On the low end of this group there was a two bedroom, one and one half bath home with 969 square feet which entered the escrow process after twenty four DOM and an asking price of $190,000. While the high end home-a three bedroom, three bath home with 2,084 square feet entered escrow after two hundred one DOM and an asking price of $439,000. In total the average price for this group of homes was $285,832-the median, $307,250.

Additionally, there were fourteen homes that successfully closed escrow this week as well after an average DOM time of seventy days. This group’s low price ranged home with a selling price of $183,000, was a four bedroom, two bath home with 1,396 square feet. The highest priced home in this group is represented by a four bedroom, one bath home, with 1,796 square feet, which successfully closed escrow at $555,000. In total, this group of homes received approximately 89.5% of their original asking price with an overall median of $265,915 and an average price of $316,202.

Labels: Chico Real Estate, Copy for News and Review

posted by ChicoTammy @ 5:20 PM