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
or
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!
Sandi - you’re right. Home prices in Chico have seemed to not drop as low as other places in California. Also I thought the sold price vs list price % was also interesting.
Thanks,
John C
Hey… I love your site!
We’re recent “tomato” graduates..