Chico Home Values

Days-to-close in Chico fell to 61 this quarter, a full eleven days faster than the trailing twelve-month median of 72 — among the quickest readings in recent memory. Based on MLS data for 2026-09 closings in Chico, price per square foot eased to $233, down from last month's $247, while the median sale price landed near $293,000 across 36 transactions. Sellers still received roughly 94 cents on the dollar at closing, with just over three in ten deals carrying concessions that averaged near $10,100 — a heavier payout than August's despite concessions changing hands less often. Nearly half of sales closed under asking.

Pending contracts in Chico doubled to six from three a month earlier, even as new listing activity slowed to 45 over the trailing three months from 50 previously — a pipeline shift that lines up with the quicker closing pace showing up in completed sales. Active inventory held steady near 122 homes, while months of supply eased to roughly ten, down from last month's stretched reading near a year. Fewer new listings meeting firmer pending activity points toward gradually improving absorption heading into fall.

Concessions in Chico grew more concentrated this quarter: the share of closings carrying any give-back slipped to just over one in four — below Wise County's roughly 47 percent rate — even as the average concession climbed to nearly $8,800, a reversal from last month's lighter figure. Based on MLS data for 2026-08 closings in Chico, sellers collected about 93 cents on the dollar, a shade below the trailing 12-month norm near 95 cents. Price per square foot held firm at $247, comfortably above the county's roughly $197 benchmark, while nearly half of deals still closed under asking and none cleared list price outright. The pattern suggests sellers are conceding less often but paying more when they do.

Pipeline signals complicate that read: pending contracts in Chico remain scarce at just three, even as active inventory holds near 120 homes, leaving months of supply near 12 — down from last month's stretched reading but still well above Wise County's nine-month benchmark. New listings pulled back to 50 over the trailing three months, a slower restocking pace that may explain why concessions are concentrating rather than disappearing. Days-to-contract activity continues trending faster than the 12-month norm, suggesting motivated inventory clears quicker even as overall supply stays loose.

Closed sales slowed markedly in Chico this cycle: just 21 transactions closed over the trailing three months, taking roughly 60 days apiece, a reversal from the brisker 47-day pace posted this spring. With a thinner sample than the 92 closings tallied over the trailing twelve months, the reading carries wider confidence intervals, but it lines up directionally with Wise County's broader market, moving at a faster 64-day median. Price per square foot eased to $224, still comfortably above the county's roughly $196 figure. Sellers received just under 95 cents on the dollar based on MLS data for 2026-07 closings in Chico, with about one in three deals carrying concessions averaging roughly $5,800, lighter than a month earlier.

Pending contracts in Chico thinned sharply, down to just two from nine a month earlier, even as new listings also slowed to 55 from 73, a pipeline pattern consistent with the deceleration showing up in closed transactions. Active inventory eased slightly to 135 homes, and months of supply came in near 19, still far looser than Wise County's roughly nine-month reading. With a modest sample size, the pipeline signals point directionally toward continued soft absorption heading into late summer rather than a rebound in pace.