Chico Real Estate Source

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.