Paradise, California, continues to navigate its recovery and rebuilding process following the devastating Camp Fire of 2018. As of mid-2024, the housing market in Paradise reflects a community in transition, balancing reconstruction efforts with market fluctuations.
Home Prices and Market Trends
The median home price in Paradise as of April 2024 stands at approximately $429,000, representing a slight decrease of 2.6% from the previous year (Paradise, CA). However, data from Redfin indicates that the average house price in Paradise rose by 14.6% year-over-year, reaching $435,000 in March 2024 (Redfin). This discrepancy suggests variability in housing prices depending on specific neighborhoods and property types.
Rebuilding Progress
Rebuilding efforts have made significant strides, with 3,207 building permit applications received and 2,993 permits issued. To date, 2,370 single-family homes and 516 multi-family units have been rebuilt, marking a substantial recovery milestone for the town (Paradise, CA) This ongoing development includes a mix of stick-built and manufactured homes, with the former constituting about 72% of new constructions (Paradise, CA).
Housing Inventory and Sales
The housing market remains somewhat competitive, with homes typically selling after an average of 76 days on the market (Redfin). Recent sales data highlights varied pricing trends, such as a property on Bille Rd selling for $45,000 after 191 days on the market, and a home on Candlewood Ct selling for $430,000 after 55 days (Redfin).
Demographic Shifts
Paradise is experiencing both inbound and outbound migration. The most popular destinations for residents leaving Paradise include Reno, Portland, and Dallas. Conversely, a significant portion of new residents are moving from metropolitan areas like San Francisco and Los Angeles (Redfin).
Community and Resilience
Community initiatives and recovery programs remain active, with efforts like the Defensible Space "Gravel" Grant Program supporting fire resilience by providing resources for defensible space around homes (Paradise, CA). Community events and local governance updates continue to foster a sense of community and participation among residents.
In conclusion, the housing market in Paradise, CA, is characterized by active rebuilding, moderate price adjustments, and a resilient community spirit driving the town's recovery and growth. For those interested in moving to or within Paradise, the market presents both opportunities and challenges as the town continues its journey toward full recovery.
