Chico Real Estate Source

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.