Below you will find the statistical breakdown and more for the Chandler area Real Estate Market for February 2019.
Below is a snapshot of February’s Real Estate Market Statistics for Chandler AZ:
The number of new listings in Chandler for February was 492 down 11.5% from December 2017. New contracts increased by 9.6% to 523. We saw 345 home sales completed in February up 12.0% from January. Median sales price was $300,000 up .3% from January. There were 759 active listing in Chandler with the average days on market of 58. The average sold price to list price was 97.0% down by .1% from prior month.
Chandler Homes for Sale by Bedrooms & Median price:
What does this mean if you are a seller?
Inventory levels dropped to 2.2 months of inventory in February, a 12.7% reduction from January’s 2.52 months of inventory. This was unexpected since the forecast for inventory levels move toward the 3 month or balanced market level. With the inventory staying in a strong seller position, homes priced correctly, should expect to sell in less than the average 58 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 February, we saw the list to contract price of 97.0% down by .1% from January. We also saw the median price increase by .3% to $300,000.
What does this mean if you are a buyer?
For buyers, a inventory of 2.2 months (compared to 2.52 months in January) is not welcomed news since this indicates we are moving back to a stronger sellers markets. Sellers continue to have an 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. Also since the forecast was for inventory to increase, any offer should be checked closely against current levels of inventory.
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: