Chandler AZ Real Estate Market Update 9/2011

What’s happening in the Chandler, AZ Real Estate Market?

768 properties are currently listed for sale in Chandler, AZ with a median price of $217,900
133 REO (Lender owned) properties
198 Short Sale properties
437 Traditional Resales

Let’s break it down…

673 single family homes for sale
607 that are NOT in Active Adult 55+ Communities.
116  are REO
174 are Short Sales
383 are Traditional Resales

83  condos/townhomes/patio homes for sale
16   REO
24  Short Sales
43  Traditional Resales

12 manufactured/modular homes for sale
1  REO
11 Traditional Resales

What type of home are you looking for?

Are you looking for a traditional sale (not a short sale or REO) single family home in Chandler?  Something that is not in an active adult community and that has a tile roof?   If so, you’re not alone.  This is the most sought after type of property in the area and a reason we are seeing bidding wars on these homes with many selling in just a day or two.

Here’s what is currently available in traditional resale, single family homes
with tile roofs that are not in active adult communities in Chandler,
AZ.

No homes priced under $100,000

43 homes priced between $100,000 – $200,000
—34 single story. Square Footage Range 1208 – 2142.  7 with pools
—   9 two+ story. Square Footage Range 1196 – 2043.  2 with pools

88 homes priced between $200,000 – $300,000
—44 single story. Square Footage Range 1475 – 3056.  11 with pools
—   44 two+ story. Square Footage Range 1724 – 2043. 18 with pools

57 homes priced between $300,000 – $400,000
—27 single story. Square Footage Range 2163 – 3606.  4 with pools
— 30 two+ story. Square Footage Range 2337 – 4634.  14 with pools

36 homes priced between $400,000 – $500,000
—26 single story. Square Footage Range 2390 – 4230.  19 with pools
— 10 two+ story. Square Footage Range 3070 – 5238.  5 with pools

18 homes priced between $500,000 – $600, 000
—13 single story. Square Footage Range 2484 – 4424.  9 with pools
— 5 two+ story. Square Footage Range 3850 – 4789.  4 with pools

23 homes priced over $700,000
—22 single story. Square Footage Range 2614 – 12,415.  18 with pools
— 1 two story. Square Footage Range 5725.  1 with pool

So what has been selling in Chandler, AZ?

578 sold (closed) in August
202 REO
152 Short Sales
224 Traditional Resales

Of the 578 properties sold
518 were Single Family Homes with a median price of $165,000
60 Townhomes/Condos with a median price of $55,500

There are 1,147 homes currently under contract waiting to close and just over a month’s worth of inventory currently for sale. 

Now do you see why your agent is telling you that the rumors of the buyer’s market are no longer true? Those well-meaning friends telling you that you can buy a home in Chandler for 10-20% below list price?  Not anymore. 

In fact, when your Agent tells you what you’re looking at is a great deal..you really don’t have much time to think about it because tomorrow it will probably be gone.

About The Amy Jones Group

Mindy Jones Nevarez is the owner of Amy Jones Group Keller Williams Integrity First. The Amy Jones Real Estate Group has been recognized as the #1 Real Estate Team in Chandler by the Phoenix Business Journal and voted Best of Our Valley for 4 years.

The Amy Jones Group specializes in real estate in Chandler, Sun Lakes, Gilbert, Mesa, Tempe, Ahwatukee, and Phoenix.