Below is a snapshot of January’s Real Estate Market Statistics for Chandler AZ:
The number of new listings in Chandler for January was 556 up 68.5% from December 2018. But in addition, new contracts also increased by 39.5% to 477. We saw 308 home sales completed in January down 20.0% from December. The median sales price was $299,000 down 5.1% from December. There were 777 active listing in Chandler with the average days on market of 56. The average sold price to list price was 97.1% up by .1% from the prior month.
Chandler Homes for Sale by Bedrooms & Median price:
What does this mean if you are a seller?
For sellers, understanding that inventory levels in January normally increase. This January was no different. We were up 68.5% vs December. Also, closed sales decreased by 20.0%. This caused the current months of inventory available for Sale to increase by 42.3% to 2.52. This moves us closer to a balanced market for the first time in a few years. Since sellers still have the advantage with fewer homes on the markets than available buyers, If priced correctly, sellers can expect to sell in less than the average 56 days on market we saw in December. Buyers are not going to overpay, but houses priced correctly and in good condition will sell, often with multiple offers. For January, we saw the list to contract price at 97.1% up by .1% from December. We also saw the median price decreased by 5.1% to $299,000.
What does this mean if you are a buyer?
For buyers, a inventory of 2.52 months (compared to 1.76 months in December) is welcome news since this indicates we are moving closer to a more balanced markets. Sellers continue to have a slight 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 AZ:
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: