Is Chico, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Chico has remained a Seller's Market.
Key Takeaway
Chico is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chico, CA
How much do homes in Chico, CA cost?
Median Sold Price
$448,499
$294/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Chico have sold for 1.9% more than they did a year ago.
Summary: The median home sold price in Chico was $448,499 in May 2024, up 1.9% from last year, and the median price per square foot was $294.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | $203.9K | +16.6% |
| 2 Bedrooms | $320K | $336.9K | +5.3% |
| 3 Bedrooms | $437.2K | $445K | +1.8% |
| 4 Bedrooms | $567.5K | $570K | 0.4% |
| 5+ Bedrooms | $619.5K | $721.5K | +16.5% |
Summary: Chico housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.6%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes increased by 16.5%.
Housing Supply in Chico, CA
How many homes are available in Chico, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 318 | 331 | +4.1% |
Summary: The Chico real estate market had 331 homes for sale in May 2024, a 4.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 38 | 44 | +15.8% |
| 3 Bedrooms | 169 | 177 | +4.7% |
| 4 Bedrooms | 98 | 91 | -7.1% |
| 5+ Bedrooms | 12 | 17 | +41.7% |
Summary: The Chico housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 15.8%, 3 bedroom homes increased by 4.7%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes increased by 41.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 73 | 95 | +30.1% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
21 Homes Were Sold
At Asking
43 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chico, you could pay more than the asking price. 45.3% of homes here sold above asking price last month.
Summary: A total of 95 homes were sold or pending in Chico in May 2024, up by 30.1% month-over-month. Of the 95 sold homes, 33% were sold under asking, 22% were sold at asking, and 45% were sold over asking.
Days on Market for Chico, CA
How long does it take to sell a home in Chico, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 40 Days | 32 Days | -18.3% |
Summary: Homes in Chico had an average of 32 days on market in May 2024, down by 18.3% compared to last year.
Breakdown of Home Sale Times
72 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Chico are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 95 homes were sold in Chico; 76% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
The listings on this site are displayed courtesy of the IDX program of Shasta Association of REALTORS and may not be the listings of the site owner. All information is deemed reliable but not guaranteed. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.