Chandler

Chandler Homes continue to sell quickly

The obvious seasonality not withstanding (when homes take longer to sell every year), homes have continued to sell quickly in Chandler, where the Median Days on Market has hovered in the mid-30s for most of the last couple of years.

Chandler is a pretty good place to be a seller. Clean ‘em, stage ‘em, and watch ‘em fly off the shelves!

-

- Chris Butterworth

-

Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

East Valley Prices Continue to Appreciate

The Median Sales Price has increased YoY across the East Valley. Tempe led the way with a 10% Yoy percentage gain, followed by Mesa (9%), Chandler (8%), and Gilbert (6%). Gilbert remained the most expensive city, however, with a median sales price of $359,950. Mesa continues to be the most affordable city (of the 4), with a median sales price of $301,750.

-

- Chris Butterworth

-

Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

Chandler shows strong growth in 2nd Qtr

The Median Sales Price in Chandler was $349,900 in the 2nd Quarter, up 6% YoY from Q2 2018 and up 23% over the last 3 years.

This price growth was good to see after the softness and potential concern we saw in the first quarter.

-

- Chris Butterworth

-

Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

Prices Rise across the East Valley

The Median Sales Price rose across the East Valley in April, when compared YoY with April 2018. Chandler, Gilbert and Mesa rose modestly (3-5%), while Tempe’s median price rose sharply (8%) from $310,000 in Apr ‘18 to $335,885 in Apr ‘19.

It’s also interesting to see the median prices bunched together so closely, with Chandler, Gilbert, and Tempe all within a couple thousand dollars of each other. I’m not sure exactly what this means, if anything, but it’s unusual compared with other time periods and other parts of the Valley.

-

- Chris Butterworth

-

Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

Chandler Prices turn down in 1st Quarter

The 1st Quarter’s Median Sales Price in Chandler was $321,450, which was far below what the trend would have had us predict. I see two different distinct trends which were broken this quarter:

  1. Q1 Year over Year (Orange arrows): Q1 has been consistently higher YoY when compared with the prior year’s Q1 over the last several years. This year, however, the change was a meager 1% increase - almost flat when compared with Q1 2018.

  2. Q1 vs prior Q4 (Yellow arrows): Q1 has risen sharply compared with the Q4 immediately preceding it, in each of the last several years. This year, however, Q1 2019 was almost 4% lower than Q4 2018.

We have seen a few charts this month pointing towards some price stagnation in Q1. What we don’t know yet is whether Q1 was a statistical blip in an otherwise upward trend, or if prices have reached a point where incomes can no longer keep up with the rising mortgage payments, and buyers aren’t able (or willing) to pay the higher prices. (ie: is the market slowing down?)

Only time will tell, but you can bet I’ll be watching closely…

-

- Chris Butterworth

-

Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.