Chico Real Estate: What happened to prices in 2007?

January 22nd, 2008categories: Chico CA Real Estate Market Stats, Chico CA Real Estate News

Chico CA Real Estate Prices History Comparison 2005-2007

Misery loves company, or so the saying goes. It’s the only explanation for the dismal outlook many folks have when discussing the Chico real estate market. While it’s true that prices have come down from the record highs of 2005 and 2006, it’s safe to say that we fared pretty well compared to many of our California neighbors. If Chico Realtors have said it once, we’ve said it a million times: REAL ESTATE IS LOCAL!

The chart below compares average asking prices and sold prices for single family, residential properties in the urban Chico area.

The data derived from the Chico MLS shows only a 5% drop in home prices from 2006 to 2007. 5%!!

Consider this headline from MSNBC on January 17, 2007:

California home prices drop nearly 15 percent

Report: LA, OC Home Prices Decrease 10 Percent

…Riverside having the biggest drop at 18 percent

San Diego County declines 10.3 Percent

Sacramento area slipped 18 percent year-over-year

I’m happy to say that my real estate investments are in Chico, CA!

Do you know what your property is worth? I do! If you are ready to sell, request a free Comparative Market Analysis today.

This entry was posted on Tuesday, January 22nd, 2008 at 8:00 amand is filed under Chico CA Real Estate Market Stats, Chico CA Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.