At an office meeting this morning real estate agents volunteered information on the turnout at their ‘open houses’ from this past weekend. “I had 18 people through”, “I had 10 groups”…results were mixed but these numbers would generally be considered a normal turnout - just like the ‘old days’. But as you already know these days are anything but normal when it comes to real estate sales. And although the attendance at open homes was impressive, these days they just don’t seem to turn into sales. So if the majority of last weekends guests were ‘window-shoppers’ thinking about buying a home, wishing they could but not ready or able to or if they’re just out to keep abreast of what’s happening with home prices…what IS selling?
Based on a search of all the homes in the Chico area that have gone ‘pending’ (reported a signed contract and opened escrow) since January 1, 2010, here’s what’s getting offers:
Land – Eight parcels. One offered @ $50,000, five @ $85,000, one commercial parcel and one acre-plus ranchette property with an old house.
Manufactured/Mobile Homes – Three, priced from $19,500 to $85,000
Condos – Six, from 90,000 to $230,000
Residential Income (rental) Properties – Four with asking prices from $329,000 - $850,000
Commercial – Two sales: listed at $295,000 and $745,000
Homes – Of the 114 contracts during the period, 89 were single family homes. Of those – one was for sale under $100,000, fourteen from $100,000 - $199,999, thirty-eight from $200,000 - $299,999, twenty-two from $300,000 - $399,999, four between $400,000 and $499,999, eight from $500,000 - $599,999, one in the $600’s, none in the $700’s or $800,s and one for $925,000.
What does this tell us? Among other things it tells us that of the approximately 475 real estate agents in the Chico Association, each agent has sold, on average, one quarter of one property in the last two months…
What a way to make a living!
* above prices are the ‘list prices’ of properties that became pending. These do not represent the actual sold prices, as those figures are not recorded until the sale closes escrow. It may be assumed that most sold prices will be less than list price.
Based on a search of all the homes in the Chico area that have gone ‘pending’ (reported a signed contract and opened escrow) since January 1, 2010, here’s what’s getting offers:
Land – Eight parcels. One offered @ $50,000, five @ $85,000, one commercial parcel and one acre-plus ranchette property with an old house.
Manufactured/Mobile Homes – Three, priced from $19,500 to $85,000
Condos – Six, from 90,000 to $230,000
Residential Income (rental) Properties – Four with asking prices from $329,000 - $850,000
Commercial – Two sales: listed at $295,000 and $745,000
Homes – Of the 114 contracts during the period, 89 were single family homes. Of those – one was for sale under $100,000, fourteen from $100,000 - $199,999, thirty-eight from $200,000 - $299,999, twenty-two from $300,000 - $399,999, four between $400,000 and $499,999, eight from $500,000 - $599,999, one in the $600’s, none in the $700’s or $800,s and one for $925,000.
What does this tell us? Among other things it tells us that of the approximately 475 real estate agents in the Chico Association, each agent has sold, on average, one quarter of one property in the last two months…
What a way to make a living!
* above prices are the ‘list prices’ of properties that became pending. These do not represent the actual sold prices, as those figures are not recorded until the sale closes escrow. It may be assumed that most sold prices will be less than list price.
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