Chandler AZ Market Report November 2012

 

 

 

 

Chandler AZ Homes For Sale

Chandler, AZ Market Report November 2012

 – Total Active Listings are unchanged over November but up 32% since June.

– Lender Owned (REO) and Short Sales (SS) make up 23% of Total Active Listings. Unlike much of the Phoenix Metro area the number of Short Sales and Lender Owned listings in Chandler, AZ have steadily increased over the past 8 months.

– Lender Owned (REO) prices had been gradually increasing over the past 6 months and are up 3% in November.

– Lender owned properties are selling quickly in Chandler, AZ averaging 57 Days On Market (DOM) and many are receiving multiple contracts even though prices have continued to rise.

– Chandler Short Sale prices have steadily declined over the past 8 months but are unchanged during November. I believe the main reason for this decline is the challenge buyers and agents face in closing Short Sales.

– As you can see the number of Short Sales Pending in Chandler, AZ is almost the same as Total Active Listings and has created a huge bottleneck in the market.

– Normal Sale prices are unchanged month over month and up 10% since May.

 

-The Average Sale Price of Chandler, AZ Homes during the month of November was $245,887-

-The Median Sale Price of Chandler, AZ Homes during the month of November was $210,000-

 

What does this mean for buyers and sellers in Chandler, AZ:

– If you are thinking of buying an Chandler, AZ home in the next year or two, why would you wait? Prices will continue to rise and interest rates have no where to go but up.

– If you are considering the purchase of a Short Sale property be prepared to have your patience challenged, delays and paperwork frustrations make the process challenging. And make sure you work with a REALTOR® who has short sale experience, I’ve successfully closed dozens of Short Sales.

– If you are thinking of selling your Chandler, AZ home in the next 12 months why not list it now, competition (other active listings) is still very low but, as you can see, increasing each month and if mortgage rates begin to rise the number of eligible buyers for your home will decrease.

– If you are considering moving from a smaller to a larger home there has never been a better time to do so. Smaller homes are selling quickly and in many cases above list price while there are still some great bargains available in homes larger than 3000 sq.ft.

 

-Click Here To Find Out What Your Home Is Worth-

-Click Here To Search Homes For Sale in Chandler, AZ-

 

 

Work with a REALTOR® who understands the Chandler, AZ  Real Estate Market E-mail Nancy@NancyLaswick.com or call (602) 793-1627.

Whether you are buying or selling a home in Chandler, AZ I offer a free customized market report. As an informed buyer or seller you’ll make better decisions.

All content in this post is protected by copyright. © Nancy Laswick 2012. All Rights Reserved.

Please Note:All statistics and figures are reported from the Arizona Regional Multiple Listing Service (ARMLS) and/or The Cromford Report and are deemed to be reliable, but cannot be guaranteed for accuracy. It is recommended that any information of special interest be verified through independent sources.