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Chandler AZ Real Estate Housing Market Report - August 2023

9/26/2023

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Chandler AZ Real Estate Housing Market Report - August 2023

The average sales price of Chandler homes decreased this month after increasing last month, going from $632,009 in July to $615,769 in August. Prices are still up overall since January of this year, but not quite as high as the all-time high we saw in May of 2022.

The average sales price per square foot of Chandler homes increased for the second month in a row. The average sales price increased from $288/sf in June to $294/sf in August. This price is lower than the price per square foot of Chandler homes in August of 2022, by just $1/sf.
 
After decreasing for 5 straight months the Chandler days on market has increased in August, going from 36 DOM in July to 39 DOM this month. This is only the second increase for DOM in Chandler this year, and it is just about the same number as this time last year.

This is the first month that typically signifies the slowing down of the housing season in Arizona, so we should expect lower numbers the remainder of the year.
Chandler AZ homes for sale
After increasing in May, Chandler home sales have decreased the last three months, going from 252 in May to 180 in August. The number of Chandler home sales is now lower than in August of last year by -16.3%. Home sales are still significantly lower than sales the previous 5 years.

The number of new listings in Chandler increased after remaining the same or decreasing the previous three months, going from 200 in July to 230 in August. With this increase, new listings are down -33.1% from August of last year. This is by far the lowest number of new listings for August since before 2018.

After increasing for eight straight months, more than doubling from 313 in January to 773 in September of 2022, active listings in Chandler have now decreased 11 months in a row and are down to 280 for August. With this decrease, active listings are now lower than the same month last year for the 5th month in a row. With this latest decrease, active listings in Chandler are less than last year's July listings by -63.5%.

The decline in the number of listings in Chandler over the last 11 months is another sign that the housing market is slowing. Fewer homeowners are putting their homes on the market partially because they are locked in at an interest rate lower than 3.5% and don't want to have to buy a home when interest rates are now around 7.6%.
 

Home prices have been slowly increasing throughout this year, and inflation and higher mortgage rates have slowed buyer demand. Median home values in Chandler have decreased an average of -2.2% since August of 2022. This is the 8th year-over-year decrease in a row after seeing nothing but increasing home prices from January 2019 through December 2022.

Mortgage interest rates have been slightly increasing the last few weeks to right around 7.6%, and some experts say inflation is slowing. With declining inventory and greater demand, it looks like we are still in a sellers' housing market in Chandler. It should remain that way as we enter the fall.


​>>Click Here 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.
Chandler real estate housing report
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Chandler, AZ
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."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

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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.
Chandler real estate | Troy Erickson Realtor | HomeSmart
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Ahwatukee AZ Real Estate Housing Market Report - July 2023

8/25/2023

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Ahwatukee AZ Real Estate Housing Market Report - July 2023

The average sales price of homes in Ahwatukee had been on a downward trend the last 3 months. This month the average sales price of Ahwatukee homes significantly increased, going from $582,410 in June to $644,695 in July.
 
After increasing last month, the price per square foot of Ahwatukee homes remained the same this month as last month at $288/sf for July. This is the 8th month out of the last 11 that the price per square foot has remained the same or has decreased.
 
After decreasing 4 months in a row, the Ahwatukee days on market increased this month, going from 34 DOM in June to 56 DOM this month. There still should be demand for homes in Ahwatukee throughout the summer as we head into the slower part of the Arizona housing market.
Ahwatukee AZ homes for sale
Ahwatukee home sales slightly decreased for the second straight month, going from 92 in May to 71 in July. Home sales typically start to decrease around this time of year, but this is the lowest number of Ahwatukee home sales in July since at least before 2018. Even with this decrease, Ahwatukee home sales are down just -4.1% from July of 2022.
 
After increasing last month, the number of new listings in Ahwatukee slightly decreased this month, going from 77 new listings in June back down to 74 in July. The number of new Ahwatukee listings are now -49.3% lower than they were in July of 2022.
 
After increasing for seven straight months, active listings in Ahwatukee have decreased the last 10 months in a row, going from 299 in September of 2022 to 120 in July this year. With this decrease, the number of active Ahwatukee listings are now -53.7% lower than in July of 2022. July inventory in Ahwatukee is now the lowest it has been since March of 2022.
 

There has been a lower-than-normal inventory of Ahwatukee homes for sale for quite some time. Homes that are listed in Ahwatukee continue to sell. Median home values in Ahwatukee have actually increased an average of 4.0% since July of 2022. This is the first increase since November of 2022.

Even with interest rates remaining around 7.0%, the demand from buyers looking to purchase homes in Ahwatukee should remain slightly higher than in a balanced market throughout the summer.
​
>>Click Here To See All Current Ahwatukee Arizona Homes For Sale<<

​For more detailed stats on the Ahwatukee Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Ahwatukee real estate housing report
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Ahwatukee AZ
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."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

Ahwatukee homes for sale
Real estate for sale in Ahwatukee
Homes for sale in Ahwatukee Arizona

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.
Ahwatukee real estate | Troy Erickson Realtor | HomeSmart
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Tempe AZ Real Estate Housing Market Report - July 2023

8/24/2023

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Tempe AZ Real Estate Housing Market Report - July 2023

After decreasing last month, the average sales price of Tempe homes saw a significant increase this month, going from $556,250 in June to $610,289 in July. This is the 4th increase this year, and the average sales price is approaching the all-time high of $627,613 we saw in July of 2022.

After slightly decreasing last month, the average sold price per square foot of Tempe homes jumped up this month, going from $297/sf in June to $317/sf in July.
 
After Tempe days on market increased last month, the DOM has decreased this month, going from 52 DOM in June to 49 DOM in July. Homes in Tempe are still selling reasonably fast, and sales should be a little slow through this summer, which is typically the time of the year when the Arizona housing market starts to slow as families settle in for the school year.
Tempe AZ homes for sale
Home sales in Tempe have decreased for the second month in a row, going from 87 in May to 54 in July. Tempe home sales are now -27.0% lower than they were in July of 2022. This is the lowest number of home sales in July over the last 6 years.

After increasing last month, the number of new Tempe listings decreased this month, going from 95 in June to 78 in July. With this decrease, new listings in Tempe are lower than they have been in July of the previous five years, and they are now -47.7% lower than in July of 2022.

After slightly decreasing last month, the number of active listings has increased this month. Active listings have gone from 136 in June to 147 in July. With the increase, the number of active listings in Tempe are less than they were in July of last year by -42.8%. This is the third straight month active listings have been lower than they were in the same month the previous year. This previously had not occurred since April of 2022.
 
Median home prices have slightly increased over the last 7 months while home inventory remains low. Homeowners are hesitant to sell their homes with such low mortgage interest rates because they will have to turn around and purchase a new home with mortgage rates almost double what they currently have.
 

Median home values in Tempe have actually decreased an average of -11.6% since July of 2022. Mortgage interest rates are hovering around 7.0%, and some experts say inflation is slowing. It looks like we are approaching a more balanced housing market in Tempe that should remain that way throughout the spring.
​
>>Click Here To See All Current Tempe Arizona Homes For Sale<<

​For more detailed stats on the Tempe Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Tempe real estate housing report
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Tempe AZ
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."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

Tempe homes for sale
Real estate in Tempe for sale
Homes for sale in Tempe Arizona

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.
Tempe real estate | Troy Erickson Realtor | HomeSmart
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Scottsdale AZ Real Estate Housing Market Report - July 2023

8/23/2023

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Scottsdale AZ Real Estate Housing Market Report - July 2023

After increasing the last 3 months, the average sales price of Scottsdale homes has decreased this month, going from $1,498,271 in June, to $1,347,959 in July. This is the third time this year that the average sales price of Scottsdale homes has decreased and is now just a little over a thousand dollars from where it was in December of 2022.

The average sold price of Scottsdale homes per square foot has also decreased after increasing for three straight months, going from $457/sf in June to $442/sf in July. This the third decrease this year.

 
After decreasing in April and May, Scottsdale days on market has now increased for the second straight month, going from 66 DOM in May to 76 DOM this month.
Scottsdale AZ homes for sale
Scottsdale home sales have seen a decrease for the second straight month. Scottsdale home sales have gone from 457 in May to 310 in July. Even with this decline Scottsdale home sales are 14.8% greater than they were in July of 2022. This is the second straight month home sales in Scottsdale were greater than the same month last year. This hasn't happened since June of 2021.
 
The number of new Scottsdale listings has slightly decreased for the 4th straight month after slightly increasing in March. New Scottsdale listings went from 498 in March to 408 this month. This is usually the time of year we see a decrease in new listings as we near the fall and kids are getting back to school soon. With this decrease, new listings this month are lower than the number of new Scottsdale listings last July by -30.5%.

The number of active Scottsdale listings has decreased for the third straight month after slightly increasing in April, going from 1,423 in April to 1,106 in July. Active Scottsdale listings have slightly declined since the beginning of 2023 and are now -21.6% lower than in July of last year. This is the first month that year-over-year active listings have been lower than the same month in the previous year since April of 2022.
 
Listings are still low overall and continue to drive demand. Many Scottsdale homeowners do not want to list their homes and give up those low mortgage interest rates for today's rates. Home sales and inventory in Scottsdale are still a little low compared to a balanced market.
 

Median home values in Scottsdale have decreased an average of -10.0% since July of 2022. With interest rates hovering around 7.0%, the number of buyers looking to purchase Scottsdale homes should be a little higher than the number of sellers this summer.
​
>>Click here to sell all current Scottsdale Arizona Homes For Sale<<

​For more detailed stats on the Scottsdale Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Scottsdale real estate housing report
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Scottsdale AZ
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."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

Scottsdale AZ homes for sale
Real estate for sale in Scottsdale
Homes for sale in Scottsdale Arizona

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.
Scottsdale real estate | Troy Erickson Realtor | HomeSmart
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Phoenix AZ Real Estate Housing Market Report - July 2023

8/18/2023

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Phoenix AZ Real Estate Housing Market Report - July 2023

The average sales price of Phoenix homes has increased after decreasing last month, going from $578,956 in June to $604,959 in July. The average sales price for Phoenix homes in July is still significantly lower than the all-time high of $621,488 that occurred in May of 2022, but it has been on an upward trend in 2023.

The average sold price per square foot of Phoenix homes increased for the 6th straight month after decreasing for 9 months in a row. The average sold price per square foot of Phoenix homes has gone from $274/sf in January to $298/sf in July.
 
After increasing for 9 straight months, the Phoenix days on market has now decreased for the 5th month in a row. The days on market went from 81 DOM in February down to 46 DOM in July.  Homes in Phoenix are still selling fast, but slower than the frenzied activity we saw in 2021 and the first half of 2022.
Phoenix AZ homes for sale
After hitting a 2023 high in May Phoenix home sales have decreased for the second straight month, going from 1,151 in May to 835 in July. With this decrease, total Phoenix home sales for July are down -13.9% from July of 2022.
​
After slightly increasing in March and April, new listings in Phoenix have decreased for the third straight month, going from 1,087 in April to 986 in July. This is way below the number of new Phoenix listings for July over the last five years (as this number should be closer to 1,800 right now). With this recent decrease, the number of new Phoenix listings are still -46.0% lower than in July of 2022.

After increasing for the previous six months, the number of active Phoenix listings has now decreased 10 months in a row. Active listings have dropped from 3,729 in September of 2022 to 1,839 in July (reduced by more than half). This is the third month that active Phoenix inventory is lower than the same month last year since April of 2022. The inventory of Phoenix homes is now lower than in July of last year by -46.5%.

Demand is still high due to the low number of homes on the market. Homeowners are locked into a very low mortgage interest rate and don't want to lose that when they sell.

 
With that said, median home values in Phoenix have actually increased by 6.1% since July of 2022. This is the first month we have seen a year-over-year increase since October of 2022. Even with interest rates around 7.0%, the demand for homes will continue throughout the summer.
​
>>Click Here To See All Current Phoenix Arizona Homes For Sale<<

​For more detailed stats on the Phoenix Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Phoenix real estate housing report
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Phoenix AZ
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."​

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

Phoenix homes for sale
Real estate in Phoenix for sale
Homes for sale in Phoenix Arizona

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.
Phoenix real estate | Troy Erickson Realtor | HomeSmart
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Mesa AZ Real Estate Housing Market Report - July 2023

8/17/2023

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Mesa AZ Real Estate Housing Market Report - July 2023

After increasing for 4 consecutive months, the average sales price of homes in Mesa has decreased this month, going from $554,727 in June to $549,140 in July. 

The average sales price per square foot of Mesa homes, however, increased after decreasing last month. The price per square foot of Mesa homes went from $263/sf in June back up to $268/sf in July. The average sales price per square foot of homes in Mesa has increased or remained the same in 5 out of the last 7 months, but is still lower than the same time last year by $13/sf.
 
After increasing in March, the days on market for Mesa has decreased the last 4 months, going from 75 DOM in March to 45 DOM this month. Days on market for Mesa is relatively low compared to a more balanced housing market, but higher than it has been in the last 3 years for this time of year.
Mesa AZ homes for sale
After increasing in May, home sales in Mesa have decreased the last two months, going from 514 in May to 353 this month. Total sales for July are the lowest they have been in that month since before 2018. Mesa home sales this month are lower than in July of last year by -13.9%.

​After increasing the last two months, the number of new listings in Mesa decreased this month, going from 466 in June to 394 in July. With this decrease of new listings in Mesa, they are now -52.0% lower than they were in July of last year, and lower than any other July since at least before 2018.

After increasing for seven straight months, the number of active listings in Mesa has now decreased for the 9th straight month, going from 1,669 in October to 723 in July. With this decline, July inventory is now lower than any July over at least the last 5 years.

This decline in active listings in Mesa signifies that fewer homeowners are putting their homes up for sale due to the higher interest rates. With the recent decline, the number of active listings is now -50.1% lower than they were in July of 2022. This is the third year-over-year decline since November of 2021.
 

Demand is still high and the number of homes for sale is low. This is partially due to inflation as well as higher mortgage interest rates. Median home values in Mesa have decreased an average of just -1.0% since July of 2022. This is the 8th year-over-year decrease in a row but is not much of a change. Prior to that we had not seen a decrease in at least 4 years. With interest rates ranging right around 7.0%, fewer homeowners are putting their homes up for sale.
​
>>Click Here To See All Current Mesa Arizona Homes For Sale<<

​For more detailed stats on the Mesa Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Mesa real estate housing report
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
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.
Homes for sale in Mesa AZ
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."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

Mesa homes for sale
Real estate in Mesa for sale
Homes for sale in Mesa Arizona

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.
Mesa real estate | Troy Erickson Realtor | HomeSmart
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Gilbert AZ Real Estate Housing Market Report - July 2023

8/16/2023

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Gilbert AZ Real Estate Housing Market Report - July 2023

The average sales price of Gilbert homes increased for the second straight month, going from $631,161 in May to $660,281 in July. Gilbert sales prices have been trending slightly upward so far this year.

The average sold price per square foot increased after barely decreasing last month. The sold price per square foot increased from $274/sf in June to $279/sf this month. The overall trend has been downward since July of 2022. The average sold price per square foot this month is now less than it was in July of 2022 by -$25/sf. This is the 8th month in a row the sold price per square foot has been lower than the same month the previous year, and that had not happened prior to that since before 2020.
 
Gilbert days on market has now decreased for 5 months in a row, going from 87 DOM in February to 39 DOM in July. The Gilbert DOM is lower than it was in July of 2019 and just barely higher than in July of 2020. Homes in Gilbert Arizona are still selling, but not quite at the frenzied pace they were in 2021 and midway through 2022.

Things should start to slow a little in Gilbert now that we are nearing the end of summer and kids will be heading back to school in August. Plus, the increase in mortgage interest rates will continue to keep Gilbert homeowners from listing their homes.
Gilbert AZ homes for sale
After increasing in May and June, home sales in Gilbert have dropped significantly in July, going from 348 last month to 228 in July. This is the third decrease this year, and we should expect to see more as we near the fall months. With this decrease, Gilbert home sales are -13.0% lower than in July of 2022.
 
The number of new listings in Gilbert decreased this month after increasing the previous two months, going from 306 in June to 223 in July. This is the lowest number of Gilbert listings in July over the last 5 years by a lot. The number of new Gilbert listings in July is now -59.9% lower than the number of new listings in July of last year.

Home inventory increased in Gilbert between March and September but has now decreased the last 10 months! Gilbert inventory almost tripled between March and September of 2022, but after declining over the last 10 months, inventory has gone back down from a high of 1,050 in September of 2022 to 444 in July. As inventory has been decreasing this entire year, the number of active listings in Gilbert are now also -59.9% lower than in July of last year.
 

Gilbert listings have almost caught up with demand and the rapid increase in home prices has started to level off due to the rising interest rates. Median home values in Gilbert have decreased an average of -7.6% since July of 2022 as mortgage interest rates have topped 7.0%. This is the 7th month in a row there has been a decrease in home values year-over-year. Prior to the last 7 months there was not a decrease in Gilbert home values in the same month year-over-year since before 2019. The demand for Gilbert housing this summer is lower, but still higher than the inventory of homes for sale.
​
​>>Click Here To See All Current Gilbert Arizona Homes For Sale<<

​For more detailed stats on the 
Gilbert Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Gilbert real estate housing report
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Gilbert AZ
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."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

Gilbert AZ homes for sale
Real estate in Gilbert AZ for sale
Homes for sale in Gilbert Arizona

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.
Gilbert real estate | Troy Erickson Realtor | HomeSmart
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Chandler AZ Real Estate Housing Market Report - July 2023

8/15/2023

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Chandler AZ Real Estate Housing Market Report - July 2023

The average sales price of Chandler homes increased quite a bit this month after decreasing last month, going from $608,524 in June to $632,009 in July. Prices are still up overall since January of this year, but not quite as the all-time high we saw in May of 2022.

After decreasing last month, the average sales price per square foot of Chandler homes increased this month. The average sales price increased from $288/sf in June to $291/sf in July. This price is lower than the price per square foot of Chandler homes in July of 2022, by just $8/sf.
 
The Chandler days on market has decreased for the 5th month in a row, going from 76 DOM in February to 36 DOM in July. The DOM has been reduced by half in just 4 months, and homes in Chandler are selling almost as fast as this time last year.

This is the last month that typically signifies the peak of the housing season, so we should see a slowdown next month.
Chandler AZ homes for sale
After increasing in May, Chandler home sales have decreased the last two months, going from 252 in May to 211 in July. The number of Chandler home sales is now higher than in July of last year by 6.0%. This is the first month home sales have been greater than the same month last year since May of 2021 (over 2 years).

The number of new listings in Chandler decreased for the 3rd straight month after increasing the previous two months, going from 234 in April to 199 in July. With this decrease, new listings are down -52.7% from July of last year. This is the lowest number of new listings in July since before 2018.

After increasing for eight straight months, more than doubling from 313 in January to 773 in September of 2022, active listings in Chandler have now decreased 10 months in a row and are down to 284 for July. With this decrease, active listings are now lower than the same month last year for the 4th month in a row. With this latest decrease, active listings in Chandler are less than last year's July listings by -59.9%.

The decline in the number of listings in Chandler over the last 10 months is another sign that the housing market is slowing. Fewer homeowners are putting their homes on the market partially because they are locked in at an interest rate lower than 3.5% and don't want to have to buy a home when interest rates are now around 7.0%.
 

Home prices have been slowly increasing throughout this year, and inflation and higher mortgage rates have slowed buyer demand. Median home values in Chandler have decreased an average of -7.4% since July of 2022. This is the 7th year-over-year decrease in a row after seeing nothing but increasing home prices from January 2019 through December 2022.

Mortgage interest rates have been holding steady the last few weeks right around 7.0%, and some experts say inflation is slowing. With declining inventory and greater demand, it looks like we are still in a sellers' housing market in Chandler. It should remain that way as we get through the summer and enter the fall.
​
​>>Click Here 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.
Chandler real estate housing report
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Chandler AZ
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."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

Chandler homes for sale
Real estate in Chandler AZ for sale
Homes for sale in Chandler Arizona

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.
Chandler real estate | Troy Erickson Realtor | HomeSmart
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Ahwatukee AZ Real Estate Housing Market Report - June 2023

7/28/2023

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Ahwatukee AZ Real Estate Housing Market Report - June 2023

After reaching an all-time high of $701,303 in May of 2022, the average sales price of homes in Ahwatukee had fluctuated up and down but has been on a downward trend. The average sales price of Ahwatukee homes decreased for the 3rd straight month going from $632,798 in March to $582,410 in June.
 
After decreasing last month, the price per square foot of Ahwatukee homes increased this month, going from $279/sf in May to $288/sf in June. This is the 7th month out of the last 10 that there has been a decrease in the average price per square foot of Ahwatukee homes.
 
After increasing 7 months in a row, the Ahwatukee days on market dropped for the 4th straight month, going from 83 DOM in February to 34 DOM this month. There still should be demand for homes in Ahwatukee throughout the spring during the Arizona housing market busy season.
Ahwatukee AZ homes for sale
After increasing last month Ahwatukee home sales slightly decreased this month, going from 92 in May to 85 in June. Home sales typically start to increase this time of year, but this is the lowest number of Ahwatukee home sales in June since at least before 2018. With this decrease, Ahwatukee home sales are down -12.4% from June of 2022.
 
After decreasing last month, the number of new listings in Ahwatukee slightly increased this month, going from 74 new listings in May to 77 in June. The number of new Ahwatukee listings are now -54.7% lower than they were in June of 2022.
 
After increasing for seven straight months, active listings in Ahwatukee have decreased the last 9 months in a row, going from 299 in September of 2022 to 127 in June this year. With this decrease, the number of active Ahwatukee listings are now -33.9% lower than in June of 2022. June inventory in Ahwatukee is now the lowest it has been since March of 2022.
 

There has been a lower-than-normal inventory of Ahwatukee homes for sale for quite some time. Homes that are listed in Ahwatukee continue to sell. Median home values in Ahwatukee have decreased an average of -9.6% since June of 2022.

Even with interest rates remaining around 6.7%, the demand from buyers looking to purchase homes in Ahwatukee should remain slightly higher than in a balanced market throughout the spring.
​
>>Click Here To See All Current Ahwatukee Arizona Homes For Sale<<

​For more detailed stats on the 
Ahwatukee Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Ahwatukee real estate housing report
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Ahwatukee AZ
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."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

Ahwatukee homes for sale
Real estate for sale in Ahwatukee
Homes for sale in Ahwatukee Arizona
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.
Ahwatukee real estate | Troy Erickson Realtor | HomeSmart
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Tempe AZ Real Estate Housing Market Report - June 2023

7/27/2023

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Tempe AZ Real Estate Housing Market Report - June 2023

After significantly increasing last month, the average sales price of Tempe homes saw a decrease this month, going from $584,163 in May to $556,250 in June. This is the 3rd decrease in the last 6 months.

After increasing last month, the average sold price per square foot of Tempe homes has slightly decreased this month, going from $300/sf in May to $297/sf in June.
 
After Tempe days on market decreased 3 months in a row, Tempe DOM has increased, going from 43 DOM in May to 52 DOM in June. Homes in Tempe are still selling reasonably fast, and sales should pick up through the spring, which is typically the time of the year when the Arizona housing market picks up.
Tempe AZ homes for sale
After increasing the last two months, home sales in Tempe decreased this month, going from 87 in May to 78 in June. Tempe home sales are now -36.6% lower than they were in June of 2022. This is the lowest number of home sales in June over the last 6 years.

After decreasing last month, the number of new Tempe listings increased this month, going from 71 in May to 95 in June. Even with this increase, new listings in Tempe are lower than they have been in June of the previous five years, and they are now -49.7% lower than in June of 2022.

After slightly increasing last month, the number of active listings has decreased this month. Active listings have gone from 142 in May to 136 in June. With the decrease, the number of active listings in Tempe are less than they were in June of last year by -32.0%. This is the second straight time active listings have been lower than they were in the same month the previous year since April of 2022.
 
Median home prices have slightly increased over the last 6 months while home inventory remains low. Homeowners are hesitant to sell their homes with such low mortgage interest rates because they will have to turn around and purchase a new home with mortgage rates almost double what they currently have.
 

Median home values in Tempe have actually decreased an average of -8.8% since June of 2022. Mortgage interest rates are hovering around 6.7%, and some experts say inflation is slowing. It looks like we are approaching a more balanced housing market in Tempe that should remain that way throughout the spring.
​
>>Click Here To See All Current Tempe Arizona Homes For Sale<<

​For more detailed stats on the 
Tempe Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Tempe real estate housing report
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Tempe AZ
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."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

Tempe homes for sale
Real estate in Tempe for sale
Homes for sale in Tempe Arizona

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.
Tempe real estate | Troy Erickson Realtor | HomeSmart
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    Chandler and East Valley Blog: Troy Erickson Realtor

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     "Real Estate is not just a job for me, it's about making a difference in the lives of others."​

    Troy has been blogging about Chandler and East Valley Real Estate in Arizona since 2006.  He stays current on local Chandler real estate by attending educational classes, and talking with title companies, home inspectors, lenders, members of the Chandler community, as well as constantly working with home buyers, home sellers, and investors within the Chandler and East Valley community.

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Troy and Mia are your Chandler Arizona Real Estate Connection - an experienced team with Diverse Solutions Realty. Troy is a licensed Realtor in the state of Arizona.
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