January 10th, 2017 Categories: Chico CA Real Estate Market Stats
Chico’s home inventory level is LOW! If you’ve been kicking around the idea of selling, now is the time to call us for a FREE Home Valuation.
Just how low is LOW?
Well, as of this morning, there were only 128 single family detached homes still available in Chico. In my 12 years of real estate, I do not recall inventory ever being this low. Last January we had 229!
To put that 128 number into perspective, 77 homes sold in Chico in November, and 55 sold in December. At the rate which homes are selling, if no new homes were to come on the market in Chico, we would not have any inventory to sell after about a month!
Suffice it to say, buyer’s agents are working extra hard to find properties to suit their buyer’s needs. When a property is priced correctly, it is likely receiving multiple offers in a short amount of time. If buyers and agents aren’t right on top of it, they will miss the sale.
Average days on market? 18
Sale price compared to original price? 99.7%
Median Sales Price? $310,000. That statistic is up 6% from January 2015.
LIST YOUR HOME NOW TO TAKE ADVANTAGE OF LOW INVENTORY
Traditional wisdom tells us that the best time to list is in the spring. After all, the flowers are blooming, the grass is green, the birds are chirping. Unfortunately, a large number of other Chico sellers will be putting their homes on the market at the same time. Why wait until there is more competition?
Ready to sell?
Please call Sandi Bauman at 530-864-5407 or email firstname.lastname@example.org. 3>
It would be my pleasure to discuss your unique property and potential market value.
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Historically low interest rates (3-4%) + low inventory = A SELLER’S MARKET.
As of this morning, there are only 153 active single family homes in Chico. Only 34 of those are under $200,000, which is a highly sought after price range. 79 homes sold in December 2012. 22 of those Chico homes sold for under $200k. We only have about 6 weeks of inventory available for buyers, which is considered LOW.
If you’ve been on the fence about putting your property on the market, now might finally be the right time. Lack of inventory in some price ranges is creating multiple offer scenarios on many properties. We’re finding it difficult to get some of our buyers into homes due to the competition with cash offers.
Considering selling? Call Sandi Bauman, the Top Chico Listing Agent for guidance. In 2011, Sandi Bauman and her Team sold more than 170 properties. The average Chico Realtor sold 5. It would be our pleasure and privilege to discuss your unique property. Call 530-864-5407 or email email@example.com.
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