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Redding Area Market Trends
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Redding has seen phenomenal upswing in the market over the
last few years. According to statistics released by the
Office of Federal Housing in the first quarter of 2003,
Redding was #1 in the nation for appreciation with a
16.35% annual increase and a quarterly increase of 2.57%.
So, if you’re considering making a move to Redding,
consider this: for every three months you procrastinate,
you’re losing $10,000 (based on a purchase price of
$400,000). If you’re still a few years away from moving,
contact me for some other ideas on how you can get into
this market now without selling your own home.
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The Future of Redding Real Estate
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While it’s impossible for anyone to predict future real
estate trends, there are some profound factors affecting
Redding that will continue to affect the market in the
future.
These factors are:
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A massive migration of retirees coming from the Bay
Area, Southern California as well as areas outside
California. I’ve recently helped clients from San
Francisco, Folsom, Oakland, Benicia, Sebastopol, Orange,
Sacramento, not to mention Oregon, Alaska, and
Massachusetts.
Click here to learn about retirement in Redding.
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An abundance of outdoor recreational opportunities
including golf, fishing, boating, biking, hunting,
camping, hiking and a constantly expanding Sacramento
River Trail. Close proximity to Whiskeytown National
Forest, Whiskeytown National Recreation Area, Shasta Lake,
Lassen Volcanic National Park. And coming soon, the
Sundial Footbridge and the 100-acre Sports Complex.
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Increasing cultural events, venues and sponsors
including the Turtle Bay Exploration Center, MarketFest,
the Cascade Theater Restoration, the Old City Hall Gallery
& Performing Arts Center, Jefferson Public Radio, the
McConnell Foundation all promise more opportunities for
exploring music, the arts, and the preservation of open
space and natural resources.
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Room to grow. Redding has thousands of acres of vacant
land for future development. Within a 20 mile radius of
Redding there are many communities with wide open spaces
including Palo Cedro, Millville, Oak Run, Mountain Gate,
Old Shasta, Shasta Lake City, Anderson, Cottonwood and
more.
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Record employment for the last four years. There are
more jobs in Redding than ever before. Blue Shield just
completed construction of an 80,000 square foot service
facility for 450 employees with future plans for a total
of 180,000 square feet and 1,000 employees. Redding
Medical Center and Mercy Hospital draw patients from the
entire northstate area. Affordable industrial and
commercial space continue to attract numerous small
businesses to the area.
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With these factors in our favor, it certainly appears that
Redding is on the map and poised for an exciting future.
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