chicoblogcentral.com

As of January 9^th there were a total of three hundred thirteen active single family residences available for sale in the six urban areas of Chico as reported in the Sierra North Valley MLS. Within the total active listings available-twenty four are bank owned and another fifty homes are offered on a short sale basis which equates to approximately 23% of the active inventory offered as “distressed” properties. The average asking price for the three hundred thirteen homes was $420,394, with a median asking price of $340,000 and an average day on the market (DOM) of 125. During the week beginning January 3^rd and ending on the 9^th, twenty one new listings were added to the inventory ranging in price from a low of $121,500 for a one bedroom, one bathroom home with 1,100 square feet to a high of $1,150,000 for a four bedroom, three bathroom home with 3,815 square feet.

Seven homes began the escrow process during this same week after an average DOM of 77. The lowest priced home in this group was a three bedroom, three bathroom home with 1,834 square feet which entered escrow after 87 DOM with an asking price of $205,000. The highest priced home entered escrow after 84 DOM with an asking price of $339,000-this home featured four bedrooms, two bathrooms and 2,202 square feet. In total, this group had an average asking price of $256,407 and a median asking price of $239,000.

With seller’s receiving approximately 83% of their original asking price-three homes successfully closed escrow for the week ending on the 9^th after an average DOM of 91. The lowest priced home sold for $145,000 after 40 DOM-the home was a three bedroom, two bathroom home with 1,130 square feet. The highest priced home sold for $930,000 after 53 DOM-it featured three bedrooms, three bathrooms and 3,381 square feet. Collectively this group represents an average selling price of $509,000 and a median selling price of $452,000.