Chandler AZ 4th Quarter Real Estate Market

JayMecray.com (480) 868-3814

Chandler AZ 4th Quarter Real Estate Market

by jay mecray (480) 868-3814

Chandler AZ 4th Quarter Real Estate Market

The 4th Quarter is Seasonally the Best Time to be a Buyer

New Listings in Chandler Were Up 18% in October between $250K-$400K

For Chandler Buyers:
Seasonally the 4th Quarter is the best time to be a buyer in Chandler AZ and this year is proving to be no exception! Typically Chandler buyer contract activity is at its strongest from March through May and weakest between November and January.  This means Chandler buyers who were out-bid by competing offers last Spring will have a different experience this quarter. October showed 18% more new Chandler AZ listings hit the market between $250K-$400K compared to last October while Chandler buyer contracts are about the same within the same price range.  There was only a 1% increase in new Chandler listings in the lower price range between $200K-$250K but a 12% drop in Chandler buyer contracts which caused overall supply in Chandler AZ to rise another 11%. The Chandler market is still a seller’s market, but more seller competition for fewer buyers translates into more price reductions and seller concessions until the Spring “Buyer Season” is upon Chandler  once again.

For Chandler Sellers:
The Chandler market may be softening between $200K-$400K (which accounts for over 56% of Chandler MLS sales), but that doesn’t mean sellers in Chandler are getting a bad deal.  Monthly average Chandler sale prices per square foot in this price range have appreciated 5% since October of last year and nearly 19% in the last 5 years. Chandler AZ homes under $200K, the appreciation rate is 9.5% in the past year and 44% in the past 5 years.    $400K-$800K has appreciated 6% for Chandler in the last year and 14% in the last 5 years and annual average sale price per square foot* in Chandler over $800K has appreciated 3% in the last year and 10.5% in 5 years.  What’s happening underneath that contract price; however, is an increased cost to sell at “top dollar”. That cost can take the shape of more days on the Chandler market with several price reductions, repairs and or needed upgrades to the home prior to list and closing cost assistance.

*Annual averages in Chandler AZ are used in the higher price ranges to lessen the sharp price fluctuations that affect the Chandler market

Jay Mecray – Ask Jay, Your Personal Real Estate Expert in Chandler Arizona
(480) 868-3814
JayMecray@gmail.com
JayMecray.com

 

1 thought on “Chandler AZ 4th Quarter Real Estate Market

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