Chico, CA Home Sales Report February, 2009

40 Single Family Homes sold in Chico during the short month of February

• Average Sold Price: $271,589, down 8% from January
• Median Sold Price: $253,000, down 3% from January
• Average Days on Market: 67 days, selling 13% faster than previous month
• Homes sold, on average, for more than 93% of list price, up roughly 5% from January

Currently there are 377 single family homes for sale in Chico, virtually the same as it was a month ago. So, inventory seems to be holding.

• Average list price of active homes: $428,174, down 3% from January
• Median list price of active homes: $355,000, down 2% from January
• Average Days on Market: 127, virtually the same as the previous month

But, here's where things start to get really interesting...

86 Homes are currently Pending sale, up 8% from January.

• Average list price of Pending homes: $307,185, up 3% from January
• Median list price of Pending homes: $284,000, up 5% from January
• Average Days on Market: 101, up 4 days from the previous month

Could it be that these Pending home sales figures indicate the bottom of the housing decline in Chico? Well, I wish I could say I knew for certain. But, I don't. However, I have been sensing my toes tickling the bottom of the pond and I think that it will be awfully interesting and telling when we take a look at the March figures. So, without making any overreaching predictions, if I'm right on this, you can say you heard it first at, ChicoRealEstateVoice.com. If I'm wrong... well, you can let me know that too!