Brent McCarthy's Chico Real Estate market update:

The median list price in CHICO, CA this week is $299,700. The 260 properties have been on the market
for an average of 72 days.  The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market.

Supply and Demand:
The market has been cooling off a bit in recent weeks, as more homes are available and demand is less.
We're already seeing prices move lower as a result. Expect this trend to continue expecially if the index
falls to the Buyer's zone. Watch for a persistent up-turn in Market Action to signal prices rising again. The market has been on a downward trend recently and this week, while essentially flat, doesn't break us out of that cycle.

 

The CHICO market is currently in the Seller's Advantage zone. The 90-day Market Action Index stands at 34.28 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly.

If your looking to purchase a home in Chico right now may be the time to buy. Rates today according to https://www.wellsfargo.com/mortgage/rates/ = 4.75% APR= 4.926% on a 30yr conventional loan.

If you'd like to search homes in Chico via the MLS for free visit: http://chicorealtor.net/Search-Homes

Brent McCarthy
Coldwell Banker Dufour Realty
PH: 530.896.3174
CELL: 530.228.1232
FAX: 530.343.8233
Search the market like I do..
www.chicorealtor.net
License #: 01724028