Chandler AZ Real Estate Market August 2012 improved but unstable

The Chandler AZ real estate market is certainly in transition and trying to find some balance.  Chandler has seen some incredible appreciation over the past year as we saw our inventory fall.

Low inventory numbers during the Spring created a supply and demand issue.  In June, Chandler appreciation peaked at 17% value increase over June of last year.  But then the word got out that the real estate market had shifted.  Seller’s learning that inventory was low and Sellers were now in the driver seat began to list their homes and inventory soon increased by approximately 15% and the buyer frenzy cooled just a bit.

Some of the decreased buyer activity could also be attributed to our higher temps and recent record breaking heatwave.  I mean, really…who WANTS to traipse around looking at homes in the heat?  Only the most determined buyers, that’s who.

As of today there are 400 single family homes for sale in Chandler, AZ, still low in the grand scheme of things.  I anticipate, once our temps cool and our Winter visitors begin to return, we’ll see increased buyer activity and hopefully a return to higher sales prices.

This week our sales prices are approximately 13.3% higher than they were last year at this time, lower than that 17% in June but still in the positive range which is a nice change of pace from the decline in home values we’ve seen since 2006.

Stay tuned!

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.