Chico Real Estate Source

This week I will be taking a look at the year end results for single family residences in area 1D of the Sierra North Valley MLS, which is located in the Central east area of Chico. In total during the year 2007 there were two hundred seventeen homes sold which is up slightly from 2006 which had two hundred nine homes sold. The year end median home price in 2007 for this area of Chico was $340,000, while 2006 had a year end median of $374,950. In total this equates to an approximate 9% decrease in value for the year 2007. However, this area’s median is about 4% above all six areas of Chico’s combined median of $325,000.

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.