Chandler Prices Rising!

I take a special interest in what is happening with Chandler real estate market trends because that's where I live!

A little over a year ago something happened that has resulted in a major shift in the local real estate market. People started buying houses. Particularly investors who had deep pockets full of cash.

The Chandler Arizona real estate market looks as though it has weathered the storm. While I think we can all agree that the economy has not recovered, it looks as though the local housing market is at least rebounding. In Chandler home prices are going up.

Inventory on the other hand is going down. Just take a look at the chart and you can see that the number of available homes to choose from in Chandler now pales in comparison to what it was as recently as a year ago. What was a buyer’s market is quickly turning (or actually has already turned) into a seller’s market.

Another indicator in this change from a buyer’s market to a seller’s market is evidenced in the number of days a house is on the market. Days on market numbers have dropped through the floor.

And it is not just Chandler where this is happening. This is the case throughout the east valley. Other cities like Gilbert, Mesa, Tempe and Scottsdale are seeing the same thing.

If you are in the market to buy a home, you are most likely in for tough times. Cash investors are on the prowl and inventory has dried up. It is not uncommon for sellers to get multiple offers on a property often times for more than they were asking. And while Chandler real estate stats have come full circle, I don’t think we are going to see the Bull Market that we saw several years ago.