Markets By Geographic Area, Chandler AZ & Surrounding
Sometimes it can be revealing to examine a market by breaking it into just a few major geographic markets. Below find a table of key statistics for residential homes comparing August 2018 to August 2017.
For sellers, every market has seen an improvement: however, the Central & North Valley has seen the lowest percentage reduction in days of inventory. This is primarily due to a small drop (-1.5%) in listings compared to the rest of the Phoenix Metro area.
The Northeast Valley has seen a big improvement for sellers with an almost 20% drop in days on inventory. Northeast Valley had a large 16% decline in active listings without a contract while the market saw strong increases in annual sales.
The Southeast Valley (Chandler AZ and surrounding) saw a similar fall in listings compared to the Northeast; however, it too saw strong increases in in annual sales volume.
The West Valley noticed a similar increase in annual sales rates to the Central Valley but saw a more significant drop in active listings year to date.
Ranking the areas by improvement for seller’s prospects we have:
#1 – Southeast Valley (Chandler AZ & Surrounding)
#2 – Northeast Valley
#3 – West Valley
#4 – Central & North Valley
It is not surprising how different the areas are to one another; furthermore, it is not surprising how much the Southeast Valley has improved for sellers over the past 12 months.
Jay Mecray – Ask Jay, Your Personal Real Estate Expert in Chandler Arizona