Homeowners in Chandlerhave been waiting for this! Prices are up and days on market are down. This means that sellers in Chandler, AZ are getting more money in a shorter period of time.
The average days on market for Chandler, AZ in May 2011 was 108 days. According to ARMLSdata so far this month, the average days on the market for Pending sales is 46 and 76 days for Closed sales. These numbers include short sales which typically have a higher average days on the market. Most well priced properties are receiving multiple offers in a matter of days in Chandler as well as Gilbert, Tempe, San Tan Valley, Queen Creek and the other metro Phoenix cities.
A decrease in days on the market for homes in Chandler is a direct result from a drastic drop in available homes for sale. The number of homes for sale in Chandler has decreased 25% in the last 12 months, according to ARMLS numbers. We have less than one months supply of homes for sale in Chandler.
The decrease in available homes for sale has driven the days on the market down because buyers are increasingly aware that the best homes go very quickly and there isn't time to wait. This consequently has put upward pressure on pricing. According to The Cromford Report, the median sales price in the East Valley cities has increased 14% in the last six months. This is wonderful and much awaited news.
If you need to buy AND sell, it's critical that you speak to a recommended mortgage lender and time the listing of your home with your Realtor.
Click here, if you are intersted to know how much your home is now worth in this changed market.
Stacie Kvanvig
602-295-3190
Stacie@RealEstateDame.com
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