Here is the most recent Chandler Real Estate Housing Market Report for June 2021:
The average sales price of homes in Chandler continues to break records each month, climbing to a new all-time high of $558,660 in June, increasing over $12,000 since last month. The average sales price per square foot has increased for 12 straight months, and is now up to $257/sf from $240/sf last month (and $194/sf in July of 2020).
Days on market reached a new all-time low of 20, as I continue to think that it can't go much lower than it already is. This does mean that homes in Chandler are selling faster than they ever have, and most home sellers are receiving multiple offers, driving prices up.
With a total of 390 for the month, Chandler home sales are actually down 1.8% from June of last year, which is a huge turnaround from May, where home sales were up 23.4% from May of 2020. I believe the large increase in Chandler home sales you saw earlier this year compared to last year had a lot to due with the COVID-19 pandemic. However, by June, the real estate business was starting to get back to normal, and that is obviously being reflected by the fact that fewer homes were sold in June of 2021 (390) than in June of last year (397).
The number of new listings are also down -2.4% from June of last year, as many people continue to stay put, and there have not been enough new homes built to keep up with demand. The number of active listings remained about the same as the previous two months, at 561, but is down -22.7% overall from June of last year.
The lack of listings continues to drive demand, and home prices higher. Median home values in Chandler have increased an average of 30.9% since June of 2020, which is almost unbelievable. I wonder how much longer home values can continue to increase like this. With mortgage interest rates starting to increase above 3.0%, there are still more buyers looking to purchase in 2021 than there are homes for sale.
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.