Ever since the devastating Paradise Camp Fire in 2018, the Butte County real estate market has seen some fluctuating statistics. Then add a pandemic and record setting low interest rates to the mix and well, the real estate market is finally starting to see some leveling out.
For November 2022, the total sales in Butte County was 162 which is down 25% from November 2021. Things were really moving last year! Although the number of homes sold was down, the averages sales price for a single family home in Butte County was $464,188 which is still up 0.5% compared to the previous year. It's not a huge spike in the average sales price which shows that the market is starting to level out. This is a good thing! Steady, healthy growth in the real estate market will get more buyers back in the game and hopefully we will see the number of homes sold rise again as well.
Going into the winter months we typically see a natural decline in the market in regard to homes sold because it is cold, folks are focused on the holidays, and let's face it, not a lot of people like to move in the rain. However, now is the time to start thinking about the upcoming year. Are you looking to buy or sell your home in 2023? If so, check out our next blog for some home buying and selling tips!
