Chico Real Estate Market Snaphot
May 23rd, 2008 categories: Market Report
Snapshot Comparison: Average Sold Prices for Chico, CA
1st Quarter 2008:
- 132 Single Family Homes Sold
- Average price of $340,955
- Median price of $292,000
- Average Days on Market, 91
1st Quarter 2007:
- 207 Single Family Homes Sold
- Average price of $366,835
- Median price of $330,500
- Average Days on Market, 92
1st Quarter 2006:
- 187 Single Family Homes Sold
- Average price of $374,134
- Median price of $339,000
- Average Days on Market, 69
Analysis:
The Chico, CA real estate market has experienced continued home price declines in home values as reported during the 1st quarter of the past two years.
- 7% reduction in price from 1st Qtr. 2007 to 1st Qtr. 2008
- 2% reduction in price from 1st Qtr. 2006 to 1st Qtr. 2007
That’s a total of only 9% reduction in average home values comparing 1st Qtr. 2006 to 1st Qtr. 2008, indicating a healthy market correction, but certainly not a collapse in Chico, CA home values. Look for further analysis here as I will compare our local figures with others around the region and the nation.
Thank you for putting together the numbers. It’s nice to have a graph that’s easy to read and understand.