First Quarter stats are in at the Chico Association of Realtors. With the current excellent interest rates and softer prices, it appears the "$300,000ish" range is attracting more first-time buyers and investors. Although average sales price for residential sales (including condos) has been declining, the "days on market" (# of days from listing until opening escrow) has also been declining, from 118 days in February to 69 days in March. So homes are selling more quickly now. I've even seen some "multiple offer" activity on a number of listings--something we haven't seen in a while! Spring/summer is typically our "busy" selling season in Chico, and every week new listings hit the market. What a great time to buy!
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