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How Much Do You Need for Your Down Payment?

1/27/2022

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How Much Do You Need for Your Down Payment?

Saving for a down payment on a home
As you set out on your homebuying journey, you likely have a plan in place, and you’re working on saving for your purchase. But do you know how much you actually need for your down payment?

If you think you have to put 20% down, you may have set your goal based on a common misconception. Freddie Mac says:
“The most damaging down payment myth—since it stops the homebuying process before it can start—is the belief that 20% is necessary.”
Unless specified by your loan type or lender, it’s typically not required to put 20% down. According to the Profile of Home Buyers and Sellers from the National Association of Realtors (NAR), the median down payment hasn’t been over 20% since 2005. It may sound surprising, but today, that number is only 13%. And it’s even lower for first-time homebuyers, whose median down payment is only 7% (see graph below):
Down payment on a home
What Does This Mean for You?

​
While a down payment of 20% or more does have benefits, the typical buyer is putting far less down. That’s good news for you because it means you could be closer to your homebuying dream than you realize.

If you’re interested in learning more about low down payment options, there are several places to go. There are programs for qualified buyers with down payments as low as 3.5%. There are also options like VA loans and USDA loans with no down payment requirements for qualified applicants.
​

To understand your options, you need to do your homework. If you’re interested in learning more about down payment assistance programs, information is available through sites like downpaymentresource.com. Be sure to also work with a real estate advisor from the start to learn what you may qualify for in the homebuying process.
Bottom Line
​
Remember: a 20% down payment isn’t always required. If you want to purchase a home this year, reach out to a trusted real estate professional to start the conversation and explore your down payment options.

​Owning a home provides one of the strongest foundations for building individual wealth and lasting financial security. If you’re ready to start your path towards homeownership, talk with a trusted real estate advisor today.
​

If you’re thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. A trusted real estate professional can answer your questions and help you determine your next steps.

Feel free to reach out to me if you have any questions about the home buying process in the East Valley. Just give me a call/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 the Phoenix Metro, and 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 | TroyEricksonRealtor@gmail.com

How much do I need for a down payment?
You don't need 20% for a down payment
Minimum down payment of 3.5%

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.
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Tempe AZ Real Estate Housing Market Report - December 2021

1/18/2022

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Tempe AZ Real Estate Housing Market Report - December 2021

The average sales price of Tempe homes increased in December after decreasing in November. The average sales price of Tempe homes ended the year on an upswing and is now at $514,944, still lower than the all-time high of $535,535 achieved in June of this year.

At the same time, the average sold price per square foot decreased after increasing the previous two months. The average sold price went from an all-time high of $293/sf in November to $289/sf in December.
 
After remaining the same as the month before in November, Tempe days on market shot up significantly to end the year. Days on market went from 32 DOM in November up to 50 DOM in December. Even though the trend has seen days on market increasing, 50 DOM is still low, and homes in Tempe are still selling fast.
Tempe AZ homes for sale | Troy Erickson Realtor
After decreasing last month, Tempe home sales increased from 116 in November to 132 in December. This has been a trend over the last nine months, where Tempe home sales increase one month and decrease the next month. Home sales in Tempe have increased in December in three of the last four years, so this is fairly common with the seasonality of real estate here in Arizona. With this increase, Tempe home sales are now 4.8% higher than in December of 2020. The low number of listings continues to impact sales, even though we are into the winter months when housing sales tend to drop off. Even with that said, Tempe saw the largest number of homes sold this year (1,516) than any other year since 2017 (1,578).
 
The number of new listings decreased for the fourth straight month, dropping from 119 in November to 98 in December, yet they are 25.6% higher than in December of last year. The number of active listings dropped for the second straight month, from 197 in November to 157 in December. This is typical of what you would see in the last few months of the year, as fewer homeowners decide to sell during the winter. The number of active listings are lower than they were in December of last year by -12.8%.
 
Active listings are lower than they were last year at this time. They are significantly low historically, and the lack of homes for sale continues to drive demand and home prices higher. We can expect home values to continue to increase as long as the inventory remains low.
 

With that said, median home values in Tempe have increased an average of 23.3% since December of 2020. With interest rates remaining around 3.3%, there will still be more buyers looking to purchase heading into 2022.
​
>>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 - December 2021
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so 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.
Homes for sale in Tempe, AZ | Troy Erickson Realtor
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 | TroyEricksonRealtor@gmail.com

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.
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Ahwatukee AZ Real Estate Housing Market Report - December 2021

1/15/2022

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Ahwatukee AZ Real Estate Housing Market Report - December 2021

The average sales price of homes in Ahwatukee has increased for the third straight month after dropping in September. The average sales price increased from $585,399 in November to $604,458 in December. The average sales price in Ahwatukee has now reached an all-time high to end 2021, surpassing the previous high of $602,866 that was reached in August of this year.
 
The price per square foot of Ahwatukee homes dropped for the second time in the last three months. After decreasing to $263/sf in October, the price per square foot increased in November up to $276/sf, but then dropped back down to $273/sf in December. Although there was a decrease this month, the average sales price of Ahwatukee homes has increased nine times out of the last eleven months, so the trend is still upward.
 
After increasing over the last three months, the Ahwatukee DOM has decreased from 30 DOM last month to 29 DOM in December. Although it has increased from the all-time low of 22 DOM in August, this is still a very low number, and it is obvious that the demand for homes in Ahwatukee is high as we head into 2022.
Ahwatukee Foothills AZ homes for sale | Troy Erickson Realtor
After dropping down to 109 sales in November, Ahwatukee home sales increased to 137 for December. This is the highest number of home sales since June of this year and ends the year with much higher home sales in December than in the last three years. Ahwatukee home sales this December are 4.6% greater than they were in December of 2020, and Ahwatukee has ended 2021 with the highest total number of home sales for the year since at least 2017.
 
The number of new listings in Ahwatukee dropped for the second straight month from 145 in October to 71 in December, decreasing to the lowest number of new listings in at least the last three years. It is typical for the number of new listings to drop off towards the end of the year as we head into the winter months, and a slower real estate market. This is only the second time in the last nine months that new monthly listings are less than new monthly listing from last year. This means that more homeowners have been looking to sell this year over last year since April of 2021. We will have to see if that trend continues into 2022.
 
Active listings in Ahwatukee significantly decreased in December after increasing for the last two months. After reaching a new 2021 high of 180 in November they dropped to 128 for December. With this increase the number of active Ahwatukee listings is now -19.5% lower than in December of last year. It is obvious that Ahwatukee could use more listings due to the continued high demand from buyers.
 
There has been a lower-than-normal inventory of Ahwatukee homes for sale for quite some time now, and homes that are listed in Ahwatukee continue to sell very fast. Median home values in Ahwatukee have increased an average of 31.0% since December of 2020, which is amazing growth. With interest rates remaining around 3.3%, the demand from buyers looking to purchase should remain high as we enter the new year.
​
​>>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 - December 2021
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so 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.
Homes for sale in Ahwatukee, AZ | Troy Erickson Realtor
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 | TroyEricksonRealtor@gmail.com

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.
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Scottsdale AZ Real Estate Housing Market Report - December 2021

1/14/2022

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Scottsdale AZ Real Estate Housing Market Report - December 2021

Scottsdale reached a new all-time high average sales price of $1,360,899 in December, after the average sales price decreased by $155,514 in November. Average sales prices increased by $191,540 this month to end the year on a high note. At the same time, the average sold price per square foot increased to $422/sf, after decreasing in November to $388/sf. Prior to that decrease the price per square foot of Scottsdale homes sold increased for 16 straight months.
 
The days on market also increased for the second straight month, up from 42 DOM in November to 44 DOM in December. This is the fourth increase in the last five months since reaching an all-time low of 34 DOM in July. The Scottsdale DOM was as high as 76 in January of this year, so even though the DOM increased to 44 it is still extremely low, especially for homes in this price point. The low DOM shows that homes in Scottsdale are still very much in demand, and they are selling very quickly.
Scottsdale AZ homes for sale | Troy Erickson Realtor
After decreasing in October, Scottsdale home sales increased for the second straight month, and only the third time in the last eight months since reaching an all-time high of 646 home sales last March and April. Home sales slightly increased from 494 homes sold in November up to 497 in December, not as large of an increase as December of the previous two years. This is the sixth month in a row that Scottsdale home sales are less than they were in the same month last year, and home sales are now -21.9% less than they were in December of 2020.
 
The number of new Scottsdale listings decreased for the eighth straight month, down from a high of 739 in April to 327 in December, and they are now lower by -18.0% than in December of last year. After increasing in October, the number of active listings has decreased for two straight months, down from 988 in October to 783 in December and are now down -35.4% from December of last year. This is by far the lowest inventory of homes for sale in Scottsdale since this data started being reported (Active listings in January of 2000, 21 years ago, were 1,022).
 
The lack of listings continues to drive demand and continues to drive an upward trend in Scottsdale home prices. Home sales have increased the last two months, and are still occurring faster than ever, while home inventory is on the decline.
 
Median home values in Scottsdale have increased an average of 17.2% since December of 2020, which is amazing. With interest rates hovering near 3.3%, there will still be more buyers looking to purchase a Scottsdale home heading into 2022.
​
>>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 - December 2021
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so 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.
Homes for sale in Scottsdale, AZ | Troy Erickson Realtor
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 | TroyEricksonRealtor@gmail.com

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.
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Phoenix AZ Real Estate Housing Market Report - December 2021

1/13/2022

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Phoenix AZ Real Estate Housing Market Report - December 2021

After a slight decrease in the average sales price of Phoenix homes last month, the average sales price markedly increased in December reaching a new all-time high of $539,734. The average sales price of Phoenix homes continued its upward trend throughout 2021.

At the same time, the average sold price per square foot dropped slightly, down from $275/sf in November to $273/sf for December. This is only the second monthly decrease in sold price per square foot since March of 2020 (almost two full years).
 
After reaching a record low of 23 days on market in May and June, days on market for Phoenix homes has increased for the sixth straight month and is now up to 33 DOM for December. Even though days to sell a Phoenix home are increasing, 33 DOM is still very low, considering in an even market we would expect to see an average DOM of 60.
Phoenix AZ homes for sale | Troy Erickson Realtor
After decreasing for two straight months, Phoenix home sales significantly increased from 1,414 in November to 1,534 in December, finishing 2021 on a high note. Even though home sales increased, they are still down -7.6% from December of 2020. However, through all of this pandemic and low inventory, Phoenix home sales have surpassed the total home sales in each year since at least 2018.
​

After reaching a 2021 high of 1,888 new listings in June, the number of new listings has dropped in five of the last six months. It took another significant decrease this month just like last month. New listings in Phoenix have gone from 1,701 in October to 1,446 in November, and down to 1,108 for December. Even with this significant drop, the number of new Phoenix listings are -7.5% lower than in December of last year. November and December always see a large decline in new listings, but the decline this year was a lot less than in the last three years.

After increasing for seven straight months, the number of active Phoenix listings have now decreased for the second straight month, going from 2,311 in November to 1,905 this month, and they are now down -16.3% from December of 2020. The lack of listings continues to drive demand and home prices higher. As long as listings continue to be less than in previous years, and demand remains high, expect home values in Phoenix to continue to increase.
 
With that said, median home values in Phoenix have increased an average of 29.4% since December of 2020. With interest rates remaining just above 3.0%, there will still be more buyers looking to purchase Phoenix homes in the beginning of 2022.
​
>>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 - December 2021
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so 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.
Homes for sale in Phoenix, AZ | Troy Erickson Realtor
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 | TroyEricksonRealtor@gmail.com

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.
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Mesa AZ Real Estate Housing Market Report - December 2021

1/12/2022

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Mesa AZ Real Estate Housing Market Report - December 2021

After decreasing to $485,190 in November, the average sales price of homes in Mesa reached a new all-time high of $504,910 for December. The average sales price had been increasing the entire year through August, and then it started fluctuating up and down, so ending 2021 with an all-time high is a good sign for home values heading into 2022.

The sales price per square foot of Mesa homes has either remained the same or has continued to climb for at least 24 consecutive months now. After November home prices per square foot remained the same as October ($251/sf), December saw an increase in the average sold price up to $253/sf. This is a significant increase of $57/sf in just one year.
 
The DOM for Mesa in December increased to 31 after November remained the same as October, at 28 DOM. This is the third month in a row that Mesa DOM has either remained the same, or increased, and the highest it has been since it was 33 DOM back in February of this year. The days on market is still extremely low for Mesa, and that means that homes in Mesa, AZ will still be in high demand as we head into 2022.
Mesa AZ homes for sale | Troy Erickson Realtor
After increasing last month, Mesa home sales saw a slight decrease in December, dropping to 635 homes sold from 640 in November. This is not quite as high as home sales in December of last year (674), but it blows away the Mesa home sales from December of 2018 (475) and 2019 (541). Because 2020 was such a unique year due to COVID-19, home sales were very high at the end of last year, and due to this, Mesa home sales this December are lower than last December by -5.8%.

​The number of new listings for December continued to drop, after consistently being over 725 each month between March and September of this year. This is the fifth decrease in a row after reaching a 2021 high of 755 new listings in July. New listings in Mesa are now down to 526 for December, and even though that is a significant drop, it is a 12.4% increase from December of last year. Although new listings are decreasing, they are still higher than last year. The consistent drop in new listings is due to the seasonal cycle of real estate in Arizona, and the fact that fewer homes are listed during the winter months.

There is still a lack of inventory based on demand, and that will only help home prices continue their upward trend. The number of active listings decreased from 840 in November to 742 in December. This is the third decrease in a row after increasing for six straight months. Even though active listings in Mesa have been trending lower, the number of active listings are only -3.3% less than they were in December of 2020. To represent how low Mesa inventory is right now, the current inventory of homes for sale is down -44.8% from December of 2018.
 

The number of listings overall is still low, and the lack of listings continues to drive demand and home prices higher. Median home values in Mesa have increased an average of 29.1% since December of 2020. With interest rates remaining slightly above 3.3%, there still should be more buyers looking to purchase a home in Mesa to start out 2022.
​
​>>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 - December 2021
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so 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.
Homes for sale in Mesa, AZ | Troy Erickson Realtor
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 | TroyEricksonRealtor@gmail.com

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.
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Gilbert AZ Real Estate Housing Market Report - December 2021

1/11/2022

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Gilbert AZ Real Estate Housing Market Report - December 2021

The average sales price of Gilbert homes has increased for the third straight month, after fluctuating up and down every other month between June and September. The average sales price of Gilbert homes increased from $594,358 in October, to a new all-time high of $629,443 for December.  After dropping for the first time in 16 months, the average sold price per square foot of homes in Gilbert has increased the last two months, from $268/sf in November to $275/sf in December. This is just another sign that home values continue to increase, even as we end 2021.
 
The days on market in Gilbert increased for the sixth straight month, from 19 DOM in June to 30 DOM in December. Even though this is the seventh increase in the last eight months, the DOM is still extremely low, which means that homes in Gilbert Arizona are still selling very fast!
Gilbert AZ homes for sale | Troy Erickson Realtor
After a nice increase in November up to 424, Gilbert home sales dropped down to 354 in December. With this decrease Gilbert home sales are now -19.0% lower than in December of 2020. Home sales typically drop off towards the end of the year due to the cycle of the housing market slowing down, so this decrease is not usual. Also, sales are significantly lower than last year, and I believe it is partially due to the lack of inventory.
 
The number of new listings in Gilbert dropped for the second straight month, going from 329 in November to 283 in December. New listings have fluctuated up and down each month since March of this year, and this is the first consecutive decline since November and December of last year. This is the lowest number of new listings all year, but it is typical for listings to decline towards the end of the year.  The number of new listings for December are actually 5.2% higher than the number of new listings in December of last year.

There is still a lack of inventory based on demand, and that will only help home prices continue their upward trend. The number of active listings sits at 377 for December, down for the second straight month, and down from 526 in October. This is the first back-to-back drop in Gilbert inventory Since December of 2020 and January of this year, but this is typical during the last couple of months of the year. Although listings dropped in December, active listings in Gilbert are higher than the same month as last year for the second time in a row, after being less than the same month last year for 28 consecutive months (since June of 2019). There are 3.3% more homes for sale in Gilbert compared to December of 2020.
 

The lack of listings continues to drive demand and home prices higher. Median home values in Gilbert have increased an average of 25.6% since December of 2020. Mortgage interest rates have started to increase above 3.3%, but are still historically low, so there still should be more buyers in Gilbert looking to purchase homes heading into 2022.
​
​>>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 - December 2021
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so 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.
Homes for sale in Gilbert, AZ | Troy Erickson Realtor
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 | TroyEricksonRealtor@gmail.com

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.
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Chandler AZ Real Estate Housing Market Report - December 2021

1/9/2022

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Chandler AZ Real Estate Housing Market Report - December 2021

For the third month in a row, the average sales price of Chandler homes increased from $565,943 in November to $599,992 for December. This is now a new all-time high, beating out the average sales price reached in July of this year of $569,492. The average sales price per square foot has increased or remained the same for 19 straight months and is now at $278/sf for December. This is a $63/sf increase from the $215/sf in December 2020.
 
After remaining the same for November as October, the DOM for December increased to 30. This is an increase from the record low of 20 DOM set in August this year, and the highest the Chandler DOM has been since January of this year. It is amazing that the DOM has continued to remain so low, which means that homes in Chandler are selling faster than they ever have, and most home sellers are receiving multiple offers, which continues to drive prices up.
Chandler AZ homes for sale | Troy Erickson Realtor
​After increasing for two straight months, Chandler home sales have now decreased for three straight months, from 379 in September down to 325 in December. This amount for December is less than December of last year by -18.5%. This is a huge turnaround from April, when home sales were up 47.6% from April of 2020. I believe the large increase in Chandler home sales you saw earlier this year compared to last year had a lot to do with the COVID-19 pandemic.

The number of new listings has dropped for the fifth straight month, down from 461 in July to 217 for December, and are now down -10.3% from December of last year. Many people are staying in their homes longer, and there have not been enough new homes built to keep up with demand.

After increasing for five straight months, the number of active listings have now decreased for the second straight month, going from 475 in October to 329 in December. With these back-to-back decreases, new listings are now less than last year's numbers for December by -12.0%.
 
The lack of listings continues to drive demand, and home prices higher. Median home values in Chandler have increased an average of 27.4% since December of 2020, which is almost unbelievable. I wonder how much longer home values can continue to increase like this. Mortgage interest rates have started to increase above 3.3%, but there will still more buyers looking to purchase Chandler homes as we head into 2022.
​
>>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 - December 2021
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so 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.
Homes for sale in Chandler, AZ | Troy Erickson Realtor
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 | TroyEricksonRealtor@gmail.com

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.
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    Chandler and East Valley Blog: Troy Erickson Realtor

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    Troy Erickson

     "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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For more information – Contact Troy at (602) 295-6807, or TroyEricksonRealtor@gmail.com today.
Chandler Arizona Real Estate Search

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.
See more at: ChandlerRealEstate.weebly.com