Chandler Real Estate Market report for April 2017.
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Below are all the Homes available in the city of Chandler by Dollar amount and type:
Navigate this Market Report:
- March Statistics
- What does this Data Mean?
- Understanding the Data if you are a Seller/Buyer
- Market Statistics for Surrounding Cities
Below is a snapshot of March’s Real Estate Market Statistics for Chandler:
For the Chandler area, new listings in March 2017 were up from February 2017 by 22.7%. New contracts in March were up 28.3% from February. Closed sales were also up by 43.7 %. The median sold home price was $285,000, up 5.6% from February. The average number of days for a home to be on the market in the Chandler area decreased to 68 days. The list to sold price increased to 97.2%
Chandler Homes for Sale by Bedrooms & Median price:
How should this Data be interpreted?
The number of new listings in Chandler for March was 703, with 749 new contracts written. We saw 562 home sales completed in March. Median sales price was $285,000. There were 808 active listing in Chandler with the average days on market of 68. The average sold price to list price increased to 97.2%.
The months of inventory decreased from 2.12 months to a low of 1.4 months.
Why is this number important? A key calculation Real Estate agents use to track is how fast the Housing Inventory is turning over is how many months of inventory is on hand. When we divide the number of available properties on the market by the number sold we determine how many months of inventory is available. Typically, when we are under three months of inventory this is considered a Seller’s market. This means there is more competition for homes, and homes typically sell closer to list price, and often with multiple offers. The real estate community generally considers under 3 months of inventory to indicate a seller’s market, while more than 4 months of inventory is moving towards a buyer’s market.
What does this mean if you are selling your Home in Chandler?
As a seller, we see that inventory levels are up slightly in March and sales are up as well. For March, we had an average number of days on market of 68 days, down from the 70 days we saw in February. If priced correctly, sellers can expect to sell in less than the average 68 days on market we saw in March. Buyers are not going to overpay, but houses priced correctly and in good condition will sell, often with multiple offers. For March, we saw the list to contract price was up from 96.7% to 97.2%. We also saw the median price increase from $270,000 to $285,000. Good news for sellers.
What does this mean if you are buying a Home in Chandler?
For buyers, this means there is a bit more inventory on the market to choose from, and those homes sold for more money with more competition. The median price in Chandler continues to increase. The months of inventory decreased slightly from 2.1 months to 1.4 months. Homes priced correctly relative to location and condition are selling closer to the original list price and selling quickly. If you are serious about an offer, have your agent provide you comparable properties to determine the best price for the house. Asking for seller concessions and making a low ball offer is not a good strategy in a seller’s market. Remember, sellers also know the value of their home in this market. Their agents are keeping sellers updated on recent sales and homes similar to theirs as they come on the market.
Below are Homes that have come on the Market in the last 7 Days around the Median price range. Also below the pictures, you will see a link to additional homes in this price range:
Since we are focusing on the Market Statistics for East Valley locations, below you will see the links specifically for those cities:
View All Current & Past Phoenix & East Valley Real Estate Market Reports
