Here is the most recent Chandler Real Estate Housing Market Report for February 2021:
The average sales price of homes in Chandler continues to climb up to an all-time high of $514,750 in February (breaking the $500k mark), an increase of over $20k from January. The average sales price per square foot also continues to increase, and is now up to $228/sf from $217/sf last month.
Days on market took a huge drop down to an all-time low of 27 after it increased for two straight months, and was at 36 DOM in January.
Chandler home sales are down -6.1% from February of last year, coming in at 278 for February of 2021. Home sales are always a little slow to start the year, and it doesn't help that there is a lack of homes listed for sale. The number of new listings is down -5.6% from February of last year, which does not help the already severe lack of Chandler homes for sale. Although the number of active listings increased from last month, it is down -24.2% from February of last year, and is not a good sign heading into March.
The lack of listings continues to drive demand and home prices higher. Median home values in Chandler have increased an average of 15.1% since February of 2020, which is incredible. With mortgage interest rates remaining around 3.0%, there are still more buyers looking to purchase in the new year.
Click on the following link to see all current Chandler Arizona Homes For Sale.
For more detailed stats on the Chandler Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me se we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.
If you're thinking of selling, many buyers will be eager to find a home just like yours due to the low inventory of available homes for sale. Reach out to me today to make sure you can get your house in on the action.
If you're thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro 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 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.