Chandler Real Estate Market doing better than most

The secret must be out that Chandler is the place to be.  According to the ASU-Repeat Sales Index which compares sales over the last 3 month, Chandler was one of two cities in the Valley that saw the lowest depreciation.  (Is that like saying my dog is not as ugly as the rest?) 

This is truly good news for Chandler who, along with Sun City West, were the only 2 communities that did not experience 2 consecutive declines in home prices Jan-Feb and Feb-Mar.

Chandler’s home prices fell 9.2% from February to March of 2008, after dipping 9.4% from January to February. 

The Valley saw double digit month to month declines in March for the first time ever.   This is likely a reflection of not only excess of inventory, but also that sellers arre finally coming to terms with the fact that they have to price their homes competitively to sell. 

Tempe dropped 8.6% in February and followed that with a 12.1% drop in prices in March.  This is surprising as Tempe has historically held value better than other areas of the valley due to the market being driven by the presence of ASU’s main campus.

Mesa’s home prices dropped 13.3% in March

The ASU-RSI relies on repeat sales data for the same house and is considered a better and more reliable way to measure sales vs using the median home prices.  It breaks the sales data into 5 Phoenix geographic area: Southeast, Southwest, Northeast, Northwest  & Central.

Visit www.AmySellsAZ.com to search the Arizona MLS and for complete weekly market updates on Phoenix East Valley Real Estate.

Amy Jones RealtorAmy Jones specializes in residential, vacation homes & cabins, as well as retirement communities in the communities of Ahwatukee, Chandler, Fountain Hills, Gilbert, Maricopa, Mesa, Paradise Valley, Queen Creek, Scottsdale, Sun Lakes, Tempe and the White Mountains communities of Pinetop/Lakes & Show Low.