Here is the most recent Chandler AZ Real Estate Housing Market Report for December 2022:
The average sales price of Chandler homes slightly increased to end 2022 after decreasing the previous two months, going from $584,576 in November to $588,327 in December. This is the fourth December in a row that sales prices in Chandler have increased, but I do not see this as a sign that the market is improving.
After increasing or remaining the same for 24 consecutive months, the average sales price per square foot of Chandler homes has now decreased for the seventh straight month. The average sales price has dropped from $315/sf in May to $272/sf in December. This is now a lower price per square foot of Chandler homes than it was a year ago in December of 2021.
The days on market has now also increased for the seventh straight month, going from an all-time low of 20 DOM in May to 70 DOM for December, more than tripling in seven months. Homes in Chandler are still selling, but they have certainly slowed down as we enter into the new year.
This is the slowest time of season for the housing market, but the home value increases from 2020 through the first half of 2022, plus the increased inventory of homes for sale and the increase in mortgage interest rates have also contributed to the slowdown in the Chandler housing market.
After increasing or remaining the same for 24 consecutive months, the average sales price per square foot of Chandler homes has now decreased for the seventh straight month. The average sales price has dropped from $315/sf in May to $272/sf in December. This is now a lower price per square foot of Chandler homes than it was a year ago in December of 2021.
The days on market has now also increased for the seventh straight month, going from an all-time low of 20 DOM in May to 70 DOM for December, more than tripling in seven months. Homes in Chandler are still selling, but they have certainly slowed down as we enter into the new year.
This is the slowest time of season for the housing market, but the home value increases from 2020 through the first half of 2022, plus the increased inventory of homes for sale and the increase in mortgage interest rates have also contributed to the slowdown in the Chandler housing market.
Click on the image below to read the full article and see what is going on in the Chandler Arizona real estate market.
Feel free to reach out to me if you have any questions about buying a home, selling your home, or investing in the Chandler, AZ or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.
"Real Estate is not just a job for me,
it's about making a difference in the lives of others"
Troy Erickson Realtor | Call/Text: 602-295-6807 | TroyEricksonRealtor@gmail.com
Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
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