Well since last December, the Chico market has had a much needed drop in inventory. Down from roughly 500+ homes, to somewhere in the 400s those with unrealistic prices and little motivation, ended up taking their homes off the market. This is great for those who are trying to sell, less competition means a much better chance at selling.
Spring may entice those unrealistic sellers to put their homes back on the market, in addition to the sunny weather. Typically we see a larger amount of homes in spring and summer which are matched by an increase in the number of buyers looking. Now may be the small window of time where our lower inventory allows for a quicker sale.
Buyers are active. I have personally witnessed in the last two weeks, two different buyers get outbid on their offers! One came in above asking price, and still was outbid, by a bit. This means that our inventory drop has not effected the number of buyers. I watch all the properties which fall off the market, you can do so also on my website: http://www.ryanvaught.com/.
Investors may find it a better time to take a look at the Chico market. Income properties still are moving like they always do, but the rental market is strong. I am helping a past client rent their home, and I had over 20 people come by Saturday morning. Wow. That is a lot.
I also manage about 40 units, and have three applications on the waiting list for the next school year. Usually we don't get any until about March or April if we are lucky.
Call me if you'd like to discuss the market further!
Ryan Vaught, Realtor
Keller Williams Chico CA
Office Phone: (530) 343-2959
Cell Phone: (530) 519-1044