Below you will find the statistical breakdown and more for the Phoenix area Real Estate Market for November 2018.
Below is a snapshot of November’s Real Estate Market Statistics for Chandler AZ:
The number of new listings in Chandler for November was 468 down 4.9% from October. New contracts also decreased by 4.0% to 434. We saw 367 home sales completed in November down 13.4% from October. Median sales price was $310,000 flat to last month. There were 718 active listing in Chandler with the average days on market of 51. The average sold price to list price was 97.4% down by .3% from prior month.
Chandler Homes for Sale by Bedrooms & Median price:
What does this mean if you are a seller?
For sellers, inventory levels continued to rise. In November we had 1.96 months of inventory compared to last months 1.62. This continues to shows us in a seller’s market. If priced correctly, sellers can expect to sell in less than the average 51 days on market we saw in November. Buyers are not going to overpay, but houses priced correctly and in good condition will sell, often with multiple offers. For November, we saw the list to contract price of 97.4% down by .3% from October. We also saw the median price drop to $310,000 remain flat to October.
What does this mean if you are a buyer?
For buyers, a inventory of 1.96 months (compared to 1.62 months in October) is welcome news since this indicates we are moving toward a more balanced markets. Currently, sellers continue to have the advantage since there are less homes available. Anything under 3 months of inventory is considered a seller’s market. So those homes that are priced right may get multiple offers. The buyer has to remain diligent about their offers. 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 or making a low ball offer is not a good strategy in this 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.
Homes For Sale in Chandler:
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 Chart of all the Chandler homes by price and Type:
Below are all the Homes available in the city of Chandler by Dollar amount and type: