Housing Market Update for Chandler, 85286, $400,000 - $500,000

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Real Estate Agent with Value Added Service, 602-620-2699 SA5376460000
https://activerain.com/droplet/5k5Q

The Chandler zip code of 85286 is conveniently located southeast of the intersecton of the Loop 101 and 202 East, the San Tan Freeway.  There are just under 40,000 residing in 85286 with the average homeowner earning just shy of $100,000 annually.  

 

Active listings for July 13, 2019 are low as expected this time of year. Our real estate market picks up in sales and June is typically the highest volume for sales, pushing inventory down a bit. Inventory is down year over year by 17% effective July 13.  

Active Listings in Chandler, 85286 $400,000 - $500,000

 

Days on Market for this price range is currently 37 days, meaning it takes 37 days to sell a home in this price range for 85286.  A year ago it took 55 days to sell a home in this price range.

Average Cumulative Days on Market 85286 June 2019

 

Month ssupply currently in this zip code is 1.3.  Meaning that it would take about 45 days to sell everything in Chandler priced between $400,000 - $500,000.  That's a very fast paced marke and is a sellers market. 

 

Months Supply of Inventory in Chandler $400,000 - $500,000

 

Sales have definitely spiked in 85286 for this price range. To put things into perspective, in June, 2010 there were 12 sales in this zip code.  In June, 2019 there were 200 sales! 

Sales per year in 85286, $400,000 - $500,000

 

For this zip code, there are quicker sales, fewer of them with rising prices.  Even though prices are climbing, it's still a great time to buy thanks to historically low interest rates.  Locking in an interest rate over a longer time period equates to more savings, reducing principal balances faster, and taking advantage of interest rate deductions. 

 

If you are looking for an agent who knows the market and works to get you the best price and terms, give me a call. 

 

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Jan Green

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