Chico CA Real Estate Market Update April 2019

Chico CA Real Estate Market Update April 2019

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Hunter Hampton | Anderson Real Estate Sales | DRE# 01212578

 
Spring has sprung and prices continue to rise here in Chico.
Hey Y’all Hunter Hampton here, Chico House Hunter
It comes as no surprise its still a sellers market.  So this means IMG: SunShining  “make hay while the sun shining’” meaning you need to sell, Why now? Because what we know about economics is whatever goes up must come down and honestly I don’t know when that will be. 
Home buying and selling activities swell during the spring and summer months, so be ready cause the market its fixing to take off even further. 
As of May 1st, homes continue to move super quick with median days on the market at NINE days, down from 12 days in March. Now that means just 9 days after you put your house on the market expect to have plenty of offers to choose from in the first week. 
The average sales price of sold homes in April was $405k.  
Simple supply and demand continues to drive the market as we have unbelievable demand but a minimal supply with homes on listed on the MLS ranging from $140k to $1.9 million. ONLY 21 of those properties properties under $300k (which includes condos). 
What’s all this mean to you? If you are thinking about it…you have a home, land or property, it’s time to sell. Seriously, property in Chico has never been more valuable than it is currently.  
Buyers beware, you’ll continue to be paying top dollar until we can see more inventory available to sell. You’ll need to get your best and final offer in quickly or you will lose the property you are looking for. Having more inventory is the only thing I see slowing this sellers market down.
Happy House Hunting Y’all!

 

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