Archive for November, 2008
REO’s and Short Sales Take Bigger Market Share in Chico Home Sales During Third Quarter
November 6th, 2008 categories: Chico Real Estate, Market Report
Conventionally Sold Chico Homes (neither, REO or Short Sale); Activity Down, Median Prices Up…
During the 3rd Quarter of 2008, 149 single family homes sold conventionally, as compared to 194 during the 2nd Quarter. This reflects a decline in activity of 23%.
However, the numbers reflect a median price increase of 3%, up from $289,750 Q2 to $300,000 Q3.
Days on market increased from 65 during Q2 to 99 during Q3.
REO Activity Up; Prices Down…
47 Bank Owned (REO) homes sold during Q3, compared to 38 during Q2, reflecting an increase in activity of nearly 20%.
Median sold price dropped from $265,500 Q2 to $238,000 Q3, reflecting a reduction of about 10%, while Days of Market shortened slightly, from 37 to 33.
Short Sale Activity Up; Prices Down…
12 Short Sale homes sold during Q3, compared to 10 during Q2, reflecting a 20% increase in activity.
Median prices fell from $270,500 to $243,500 during the Third Quarter, reflecting a decrease of roughly 10%, very much on par with the REO market.
Days on Market went up from 71 days to 105 days.
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Chico Almond Bowl Run
November 3rd, 2008 categories: Events
The rain broke just in time for Chico’s 34th annual Almond Bowl Run. This run is just one of many great Chico events that take place in beautiful Bidwell Park. Runners choose to run either a 5k or 10k and this year brought out about 1,000 participants. Congratulations to all that participated and especially to my wife Cassie (pictured above in the Chico for Obama shirt).
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