Here is the most recent Chandler AZ Real Estate Housing Market Report for January 2023:
The average sales price of Chandler homes slightly decreased to start 2023, after increasing in December, going from $590,913 in December to $585,004 in January. This is the second January in a row that sales prices in Chandler have decreased to begin a new year.
After decreasing for 7 consecutive months, the average sales price per square foot of Chandler homes remained exactly the same in January as it was in December. The average sales price remained at $272/sf. This price is lower than the price per square foot of Chandler homes last year, in January of 2022, by $6/sf.
After increasing for 7 straight months, the days on market has now decreased to begin 2023, going from 69 DOM in December to 66 DOM for January. Homes in Chandler are still selling, but they have certainly slowed down over the last 8 months, and as we begin 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 decreasing for 7 consecutive months, the average sales price per square foot of Chandler homes remained exactly the same in January as it was in December. The average sales price remained at $272/sf. This price is lower than the price per square foot of Chandler homes last year, in January of 2022, by $6/sf.
After increasing for 7 straight months, the days on market has now decreased to begin 2023, going from 69 DOM in December to 66 DOM for January. Homes in Chandler are still selling, but they have certainly slowed down over the last 8 months, and as we begin 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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