Chandler Real Estate Market Report May 2017
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Below are all the Homes available in the city of Chandler by Dollar amount and type:
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Below is a snapshot of Chandler’s Real Estate Market Statistics for April 2017;
The number of new listings in Chandler for April was 588 with 649 new contracts. We saw 555 home sales completed in April. Median sales price was $279,990. There were 762 active listing in Chandler with the average days on market of 67. The average sold price to list price increased to 97.8%.
Chandler Homes for Sale by Bedrooms & Median price:
How should this Data be interpreted?
The Chandler market is seeing fewer properties coming on the market and with lower inventory we naturally expect to see houses under contract reduced as well as closed sales. The market remains very robust.
The months of inventory remains at 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 a Home in Chandler?
For sellers, understand that inventory levels are down in April and sales are down as well. For April, we had an average number of days on market of 67 days, down from the 68 days we saw in April. If priced correctly, sellers can expect to sell in less than the average 68 days on market we saw in April. Buyers are not going to overpay, but houses priced correctly and in good condition will sell, often with multiple offers. For April, we saw the list to contract price was up slightly from 96.7% to 97.8%. We also saw the median price decrease from $285,000 to $279,990.
What does this mean if you are buying a Home in Chandler?
For buyers, this means there is less inventory on the market to choose from, and those homes that are available, when priced right, may get multiple offers. The median price in Chandler has decreased slightly. The months of inventory continues to be a low 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:
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