Below you will find the statistical breakdown and more for the Chandler area Real Estate Market for February 2018.
Snapshot of Chandler’s Real Estate Market Statistics for February 2018.
The number of new listings in Chandler for February was 567 down 1.7 % from January. But in addition, new contracts increased by .3% to 598. We saw 397 home sales completed in February up 5% from January. Median sales price was $285,000 down 5% from January. There were 622 active listing in Chandler with the average days on market of 59. The average sold price to list price was 97.2% up by .3% from prior month.
Chandler Homes for Sale by Bedrooms & Median price:
What does this mean if you are a seller?
For sellers, understand that inventory levels only increased slightly to go along with sales volume which increased by 5.0% from the prior month. For February, we had an average number of days on market of 59, down 7 days from the prior month. We currently have 1.57 months of inventory available for Sale which is basically flat to last month. This continues to show that Chandler remains in a strong seller’s market. If priced correctly, sellers can expect to sell in less than the average 59 days on market we saw in February. Buyers are not going to overpay, but houses priced correctly and in good condition will sell, often with multiple offers. For December, we saw the list to contract price of 97.2% up by .3% from January. We also saw the median price drop to $285,000 a 5.0% decrease from January.
What does this mean if you are a buyer?
For buyers, a inventory of 1.57 months (compared to 1.60 months in January) is troublesome news since this indicates a continued strong Sellers market. Sellers continue to have an advantage since there are less homes available on the market. 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 and making a low ball offer is still 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 AZ by Dollar amount and type: