Chandler Real Estate Market Update – October

Chandler median home prices were up 10% compared to last year’s October, and the average price per square foot was $150 – up from $141. Chandler saw one of its stronger sales months in September, continuing 2016’s trend for being one of the healthiest years since the 2004-2006 homebuying frenzy. The median sales price was $274,995 and the average home sold in 43 days, contrasted with October ’15’s price tag of $250,000 and 40 days.

423 homes sold last month vs. 340 last October, indicating more than a 25% increase in sales volume. Current Pending sales of 363 homes are averaging just 29 days on the market and at a per square foot price of $153, so it appears that prices will continue to rise slowly during the Fall season. Although the market is strong, buyers are still expecting closing cost assistance – even in higher-priced luxury homes.

With 830 Chandler homes currently on the market and another 591 under contract (includes homes under contract with contingencies), there is no doubt that it’s a seller’s market. Chandler has less than a 2 month supply of homes, which a tighter supply than the previous month.

New construction homes continue to be built and sold at record levels, but are presenting little competition with resale homes.

Interest rates are still at historic lows so conditions for buying or selling a home are ideal.

Are you thinking about putting your home on the market? We probably already have the buyer. Using an exclusive in-house MLS, we can show you exactly how many potential buyers we have for your home right, as well as a value range of what you can expect your home to fetch in this market. Click here for your instant Chandler home valuation

Chandler resident? Be sure to join our private Facebook group HERE for all the latest updates in our town and a way to connect with other neighbors. This is not a real estate group, rather a community group that brings residents together on important matters, fun things to do, and needs in the area.

Ready for an no-obligation consultation? Fill out the form below and we’ll be in touch, or call 909.771.8320.

Get your Instant Home Value…