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July Stats for Chandler, Gilbert, and Maricopa County

By Troy Erickson AZ Realtor (602) 295-6807

Real Estate Agent with HomeSmart License # SA577557000

September 27, 2009 08:15 AM

July Stats for Chandler and Gilbert 2009 The resale home transactions in Maricopa County remained positive in July. There were 7,300 resales, which was up 2,605 from July 2008. The county's median resale price, however, had a 33% drop from July 2008 to July 2009. The median resale price dropped to $135,500 from $200,750 in July 2008. Foreclosure activity still remains high, at 37% of all transactions for July 2009. Jay Butler, realty-studies director, says "A recovery cannot really be established until foreclosure activity drops to historical levels, such as 3 to 5 percent of monthly recordings...."

AREA	JULY RESALES CHANGE 2008 to 2009	MEDIAN SALES CHANGE 2008 to 2009	JULY FORECLOSURE CHANGE 2008 to 2009
Phoenix	+1,200	-$73,000	+105
Chandler	+120	-$44,750	+50
Gilbert	+95	-$41,000	-5
Maricopa County	+2,605	-$65,250	+140

As you can see, Chandler and Gilbert had an increase in resales. Chandler only decreased in resale price by 18.7%, and Gilbert dropped in resale price by 17.1%, much less than the 33% average. Foreclosure activity in Chandler and Gilbert was at 47% of total transactions for July 2009. We still have a long recovery ahead, as it will take some time to reduce the number of foreclosures.

So, although sales are up from a year ago, the sales price continues to drop, and foreclosures still make up almost 40% of the total sales transactions. That means it's still a great time to buy!

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Rashel Beaver

Phoenix, AZ

Thanks for helping getting the word out there that it is the perfect time to buy here in Phoenix!

Sep 27, 2009 08:51 AM

Troy Erickson AZ Realtor (602) 295-6807

HomeSmart - Chandler, AZ

Your Chandler, Ahwatukee, and East Valley Realtor

Rashel - It really is a good time to buy, as the numbers reflect. Homes have become much more affordable.

Sep 27, 2009 09:14 AM

Lina Robertson

AMAX Real Estate - Springfield, MO

REALTOR® Serving Springfield, Nixa and Ozark, MO

That is great information on homes in your area. Thanks for sharing!

Sep 28, 2009 10:48 AM

Lina - It seems as though things are starting to turn around. Just need to have fewer foreclosures.

Sep 28, 2009 06:23 PM

July Stats for Chandler, Gilbert, and Maricopa County

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Troy Erickson AZ Realtor (602) 295-6807

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