For some time now the ‘word-on-the-street’ has been that Chico homes are not selling, and that they’re selling for ‘pennies-on-the-dollar’. Let’s separate that myth from the reality…
REALITY: Homes in certain price ranges are experiencing longer marketing time and are undergoing greater discounts off asking price than others. For instance, the median number of ‘days on the market’ to date in 2009 was just 27 days for homes in the $200,000-$250,000 range. In the $400,000 - $500,000 range they were nearly three times as long at 76 days. High end homes have seen price reductions of up to $95,000 in order to sell.
REALITY: Homes in the ‘entry-level’ or ‘first time buyer’ price range of app. $275,000 and less are experiencing brisk sales, here are some examples:
184 Pauletah Place sold in 3 days for $6,000 over the $208,000 asking price.
2621 Swallow Tail Way sold in 2 days for $3000 over $207,200 asking price.
206 Rochester sold in 1 day at the asking price of $223,000.
REALITY: Homes in all price ranges, if they are priced in accordance with what comparably appointed homes are selling for in the area AND if they are easy to show and in very good condition are selling quickly. Here are some higher priced 2009 sales:
3356 Summit Ridge Terrace sold in 9 days for $1250 over the $557,750 asking price.
10306 Fimple sold in 8 days at the asking price of $849,000.
824 Whispering Winds sold in 6 days for the $600,000 asking price.
REALITY: Homes in certain price ranges are experiencing longer marketing time and are undergoing greater discounts off asking price than others. For instance, the median number of ‘days on the market’ to date in 2009 was just 27 days for homes in the $200,000-$250,000 range. In the $400,000 - $500,000 range they were nearly three times as long at 76 days. High end homes have seen price reductions of up to $95,000 in order to sell.
REALITY: Homes in the ‘entry-level’ or ‘first time buyer’ price range of app. $275,000 and less are experiencing brisk sales, here are some examples:
184 Pauletah Place sold in 3 days for $6,000 over the $208,000 asking price.
2621 Swallow Tail Way sold in 2 days for $3000 over $207,200 asking price.
206 Rochester sold in 1 day at the asking price of $223,000.
REALITY: Homes in all price ranges, if they are priced in accordance with what comparably appointed homes are selling for in the area AND if they are easy to show and in very good condition are selling quickly. Here are some higher priced 2009 sales:
3356 Summit Ridge Terrace sold in 9 days for $1250 over the $557,750 asking price.
10306 Fimple sold in 8 days at the asking price of $849,000.
824 Whispering Winds sold in 6 days for the $600,000 asking price.
So...home sales slow? Not necessarily...there are definitely buyers out there for homes that show well and are priced right!
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