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Is It Enough To Offer Asking Price in Today’s Housing Market?

4/26/2022

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Is It Enough To Offer Asking Price in Today’s Housing Market?

Buying a home in Phoenix AZ
If you’re planning to buy a home this season, you’re probably thinking about what you’ll need to do to get your offer accepted. In previous years, it was common for buyers to try and determine how much less than the asking price they could offer to still get the home. The buyer and seller would then negotiate and typically agree on a revised price that was somewhere between the buyer’s bid and the home’s initial asking price.

In today’s real estate market, buyers shouldn’t shop for a home with the same expectations.

Things Are Different Today

​
Today’s housing market is anything but normal. According to the National Association of Realtors (NAR), the average home that’s sold today:

  • Receives 4.8 offers
  • Sells in just 17 days

Homes selling quickly and receiving multiple offers shows how competitive the housing market is for buyers right now. This is because there are more buyers on the market than homes for sale. When the number of homes available can’t keep up with demand, homes often sell for more than the asking price.
​
How Does This Impact You When It’s Time To Submit an Offer?
​

Market conditions should help guide your decisions throughout the process. Today, the asking price of a home is often the floor of the negotiation rather than the ceiling. Knowing this is important when it’s time to submit an offer, but you should also use that information as you’re searching for homes too. After all, you don’t want to fall in love with a home that ultimately sells for a price higher than what you’ve budgeted for.
​

The Mortgage Reports has advice if you’re looking to purchase a home in a competitive market. The article encourages you to be realistic with your housing search, saying:
​
“The best thing to do is set your budget and expectations ahead of time so you know how much you can afford to offer — and when to walk away. This will make negotiations a lot easier.”

Of course, when you’ve found your dream home, you’ll want to do everything you can to submit your best offer up front and win a potential bidding war. Knowing the current market is key to crafting a winning offer. That’s where working with an expert real estate advisor becomes critical.

A real estate professional will draw from their experience and expert-level knowledge of today’s housing market throughout the process. They’ll also balance conditions in your area to make sure your offer stands out above the rest.

Bottom Line

Understanding how to approach the asking price of a home and what’s happening in today’s real estate market are critical for buyers. Let’s connect so we can work together to create a winning plan for you.
​
Feel free to reach out to me if you have any questions about buying a home. 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 | [email protected]

Buying a home in todays market
Home buying with high competition and low inventory
Buying a home in today's housing market

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 - March 2022

4/15/2022

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Ahwatukee AZ Real Estate Housing Market Report - March 2022

The average sales price of homes in Ahwatukee has increased for the sixth straight month after decreasing in September of 2021. The average sales price increased from $640,779 in February to $653,676 in March, reaching a new all-time high.
 
The price per square foot of Ahwatukee homes has increased for the third straight month, going from $290/sf in February to $297/sf in March. The average sold price per square foot of Ahwatukee homes has increased 12 times out of the last 14 months.
 
After dropping for three consecutive months, the Ahwatukee days on market increased from 26 DOM in February to 28 DOM in March. Although it has increased from the all-time low of 22 DOM in August of 2021, 28 DOM is still a very low number, and it is obvious that the demand for homes in Ahwatukee remains high in 2022.
Ahwatukee AZ homes for sale | Troy Erickson Realtor
After decreasing to 78 in January, Ahwatukee home sales have increased two straight months, from 102 in February to 115 in March. This is the lowest number of Ahwatukee home sales in March over the last four years, other than in March of 2020 when the Covid pandemic hit the U.S. and closed down the economy. With this increase Ahwatukee home sales are still down -18.4% from March of 2021.
 
The number of new listings in Ahwatukee increased for the third straight month, going from 71 in December of 2021 to 140 in March. New Ahwatukee listings this March are the lowest they have been since before at least 2018. The number of new Ahwatukee listings are now -9.1% lower than they were in March of 2021.
 
After decreasing for three months, active listings in Ahwatukee increased to 112 in March from 99 in February. This is the first increase since reaching a 2021 high of 182 in November. With this increase, the number of active Ahwatukee listings is still -25.8% lower than in March of 2021. 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 22.9% since March of 2021, which is amazing growth. With interest rates remaining just above 4.25%, the demand from buyers looking to purchase homes in Ahwatukee should remain high early in 2022.
​
​>>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 Foothills real estate housing report - March 2022
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 | [email protected]

Ahwatukee Arizona homes for sale
Real estate for sale in Ahwatukee Foothills, AZ
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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Tempe AZ Real Estate Housing Market Report - March 2022

4/14/2022

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Tempe AZ Real Estate Housing Market Report - March 2022

The average sales price of Tempe homes increased for the fourth straight month, moving from $565,980 in February to $577,839 in March. This is not as large of an increase as the last three months, but the average sales price of Tempe homes has reached a new all-time high.

After increasing for two straight months, the average sold price per square foot of Tempe homes remained the same as last month. The average sold price in Tempe remains at the all-time high of $303/sf for March.
 
After increasing to 50 days on market in December to end 2021, Tempe days on market decreased two months in a row, to a low of 29 for February, but jumped back up to 40 DOM for March. Days on market typically decrease during the first months of the year, but even at 40 DOM, it shows that homes in Tempe are still selling faster than normal.
Tempe AZ homes for sale | Troy Erickson Realtor
After decreasing the first two months of 2022, Tempe home sales have increased in March. Home sales in Tempe have increased from 104 in February to 127 in March. Home sales in Tempe typically decrease in January, but then increase February through April. With this increase Tempe home sales are now 1.6% higher than in March of 2021. The low number of listings continues to impact sales, even though we are heading into the spring when home sales in Tempe usually increase.
 
The number of new Tempe listings increased from 104 in February to 120 in March. This was the second straight increase after decreasing or remaining the same for five months in a row. New listings in Tempe continue to be the lowest since before 2018, and for this March they are -18.9% lower than in March of 2021.

The number of active listings dropped for the fifth straight month, from 226 in October of 2021 down to 122 in March of 2022. The number of active listings in Tempe are lower than they were in March of last year by -18.1%.
 
Active listings in Tempe are lower than they ever have been historically, and the lack of homes for sale continues to drive demand and home prices higher. We can expect home values in Tempe to continue to increase as long as the inventory remains low.
 

Median home values in Tempe have increased an average of 23.9% since March of 2021. With interest rates moving slightly above 4.25%, there will still be more buyers looking to purchase a home in Tempe throughout the first months of 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 - March 2022
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 | [email protected]

Tempe Arizona homes for sale
Real estate in Tempe Arizona 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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Phoenix AZ Real Estate Housing Market Report - March 2022

4/13/2022

0 Comments

 

Phoenix AZ Real Estate Housing Market Report - March 2022

The average sales price of Phoenix homes decreased in March, after increasing for three straight months. Average Phoenix sales prices dropped from an all-time high of $581,233 in February down to $579,045 in March which was not much of a decline. The average sales price of Phoenix homes has increased in ten out of the last fourteen months.

The average sold price per square foot of Phoenix homes continues to increase for the third straight month, going from $273/sf in December of 2021 to $305/sf in March. The Phoenix average sold price per square foot has only decreased twice in the last 25 months.
 
The Phoenix days on market decreased for the second straight month after increasing for seven straight months. The days on market has dropped from 34 in January down to 28 DOM for March. The DOM to sell a home in Phoenix is still very low, considering a balanced market would expect to see an average DOM of 90.
Phoenix AZ homes for sale | Troy Erickson Realtor
​​Phoenix home sales have increased for two straight months, going from 1,142 in January to 1,554 in March. Even with these increases in Phoenix homes sold, total home sales for March are still down -5.8% from March of 2021.
​
New listings in Phoenix have increased from 1,108 in December of 2021 to 1,726 in March, for the third increase in a row. Prior to this increase new listings had decreased in five of the last six months since reaching a 2021 high of 1,888 new listings in June. Even with these recent increases, the number of new Phoenix listings are still -3.5% lower than in March of last year. New listings tend to trend upwards the first couple of months of a new year, so this is pretty common.

After slightly increasing last month, the number of active Phoenix listings decreased in March. Active Phoenix listings have now decreased in four out of the last five months, going from a 2021 high in October of 2,371 down to 1,619 in March. The inventory of Phoenix homes is now down -10.3% from March of last year. The lack of listings continues to drive demand and has home prices trending 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 27.0% since March of 2021. Even with interest rates moving above 4.25%, there will still be more buyers looking to purchase Phoenix homes early in 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 - March 2022
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 | [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.
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Scottsdale AZ Real Estate Housing Market Report - March 2022

4/12/2022

0 Comments

 

Scottsdale AZ Real Estate Housing Market Report - March 2022

Scottsdale's average sales price continued to increase, going from $1,386,205 in February to a new all-time high of $1,441,096 in March. This is the second significant increase after January started off the new year with a drop in the average sales price. It is also a good sign for 2022 considering that the average sales price of Scottsdale homes had decreased in 6 out of the last 8 months prior to the increase in February.

At the same time, the average sold price per square foot for Scottsdale homes increased from $447/sf in February to $464/sf in March. The average sold price per square foot in Scottsdale has increased or remained the same in 20 out of the last 21 months.

 
The days on market has now decreased for the third straight month, going from 44 DOM in December of 2021 to 31 DOM in March, after increasing the previous two months. The Scottsdale DOM was as high as 76 in January of 2021, so being at 31 DOM now is 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
Scottsdale home sales saw a significant increase for the second straight month, going from 391 in January to 522 in March. Scottsdale home sales this March were much higher than in March of 2019 and 2020. However, the 522 homes sold this March are -19.2% lower than they were in March of 2021.
 
The number of new Scottsdale listings increased for the third straight month after decreasing for the eight months prior, going from 328 in December to 622 in March. This is the lowest number of new listings in Scottsdale for March since before 2018. New listings this March are lower than in March of 2021 by -15.5%.

After increasing last month, the number of active Scottsdale listings decreased from 717 in February to 678 in March. Active Scottsdale listings are now down -29.4% from March of last year. This is by far the lowest inventory of homes for sale in Scottsdale since this data started being reported. For reference, active listings in February of 2000 (22 years ago) were 1,160.
 
The lack of listings continues to drive demand and continues to drive an upward trend in Scottsdale home prices. Home sales in Scottsdale are still occurring faster than ever, while home inventory is on the decline.
 

Median home values in Scottsdale have increased an average of 25.7% since March of 2021, which is amazing. With interest rates remaining relatively low around 4.25%, there will still be more buyers looking to purchase a Scottsdale home early in 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 - March 2022
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 | [email protected]

Scottsdale AZ homes for sale
Real estate for sale in Scottsdale, AZ
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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Mesa AZ Real Estate Housing Market Report - March 2022

4/9/2022

0 Comments

 

Mesa AZ Real Estate Housing Market Report - March 2022

After increasing for three straight months, the average sales price of homes decreased from the all-time high of $540,171 in February to $537,760 in March. Even though there was a dip this month, the average sales price of Mesa homes has now increased in 13 out of the last 16 months.

The average sales price may have decreased, but the sales price per square foot of Mesa homes has either remained the same or has continued to climb for 27 consecutive months now. The price per square foot of Mesa homes continues that trend into 2022, increasing from $265/sf in February to $274/sf for March. This is a significant increase of $57/sf since March of 2021.
 
After increasing for two consecutive months, the days on market for Mesa has decreased for the second straight month, going from 32 DOM in January to 25 DOM in March. This is the third year in a row that DOM has decreased in February and March to start off a new 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 early in 2022.
Mesa AZ homes for sale | Troy Erickson Realtor
Mesa home sales saw a significant increase in March, for the second monthly increase in a row. Home sales in Mesa went from 466 in January up to 719 in March, which is the largest number of sales for any given month since September of 2020. It is typical for home sales to increase the first three months to start a new year, and this is the fourth straight year this has been the case. Mesa home sales this March are higher than in March of last year by 3.9%, and the highest total for March since before 2018.

​After decreasing last month, the number of new listings for March saw an increase from 571 in February to 726 this month. This is the fifth year in a row that new listings have increased in March. With this increase of new listings in Mesa, they are now -0.1% lower than they were in March 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 has decreased for the fifth straight month, going from a 2021 high of 907 in October to 624 in March this year. Even though active listings in Mesa have been trending lower, the number of active listings is actually 0.8% higher than they were in March of 2021. To represent how low Mesa inventory is right now, the current inventory of homes for sale is down -58.9% from March of 2019.
 

The number of listings in Mesa is extremely low, and the lack of listings continues to drive demand and home prices higher. Median home values in Mesa have increased an average of 28.9% since March of 2021. With interest rates moving just over 4.25%, there still should be more buyers looking to purchase a home in Mesa early on in 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 - March 2022
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 | [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.
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Gilbert AZ Real Estate Housing Market Report - March 2022

4/8/2022

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Gilbert AZ Real Estate Housing Market Report - March 2022

​The average sales price of Gilbert homes has increased for the second month in a row, going from $626,685 in February to $671,229 for March. The total for March has surpassed the previous all-time high of $629,335 it reached in December of 2021.

After decreasing in January, the average sold price per square foot of Gilbert homes also increased for the second straight month, from $285/sf in February to $289/sf in March. This is just another sign that home values continue to increase, as this is the 19th increase in the last 21 months.
 
After increasing or remaining the same for the last 10 months, dating back to April of 2021, Gilbert days on market saw a drop from 30 last month down to 23 DOM for March. This is a sign that there seems to be no slowing down in the Gilbert housing market. The Gilbert DOM is extremely low, which means that homes in Gilbert Arizona are still selling very fast!
Gilbert AZ homes for sale | Troy Erickson Realtor
​After seeing a significant drop in Gilbert home sales in January, home sales in Gilbert have increased the last two months, going from 283 in January to 442 in March. With this increase Gilbert home sales are now 10.8% higher than in March of 2021. March home sales in Gilbert are higher than they were in March of the last two (pandemic) years. This could mean that we are in for another competitive housing market this spring.
 
The number of new listings in Gilbert saw another increase in March after decreasing the previous month, going from 372 in February to 445 in March. It is typical to see new listings increase in March, but next month's new listing data will tell us a lot about the Gilbert housing market heading into the high buying season. The number of new Gilbert listings in March is still -7.5% lower than the number of new listings in March 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 343 for March, down for the fifth straight month, and down from the 2021 high of 529 in October.

Active listings always tend to start off low to begin a new year, but typically increase in February to kick-off the new housing season. This is the first year since before 2018 that February and March both saw a decline in Gilbert home inventory. Active listings are now -6.0% lower than in March of last year.
 

The lack of listings continues to drive demand and home prices higher. Median home values in Gilbert have increased an average of 26.8% since March of 2021. Mortgage interest rates have started to increase above 4.25%, but are still historically low, so there should be more buyers in Gilbert looking to purchase homes early on in 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 - March 2022
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 | [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.
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Chandler AZ Real Estate Housing Market Report - March 2022

4/7/2022

0 Comments

 

Chandler AZ Real Estate Housing Market Report - March 2022

The average sales price of Chandler homes continues to break records, growing from $620,035 in February to $637,486 in March. This is the fifth increase in the last six months, since September of 2021.

The average sales price per square foot has increased or remained the same for 22 consecutive months and is now at $306/sf in March of 2022. This is the first time the average sales price of Chandler homes has gone over $300/sf, and it is a $72/sf increase from the $234/sf in March of 2021.
 
The days on market for March of 2022 remained at 26, the same as it was in February. This is the lowest it has been since September of 2021. The DOM has remained at or below 31 since February of 2021, 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 decreasing for four straight months, Chandler home sales have increased for the second straight month, from 278 in February to 328 in March. The number of Chandler home sales for March is lower than March of last year by -8.4%. This is the lowest number of March home sales in Chandler since 2018.

The number of new listings in Chandler saw an increase for the third straight month, going from 295 in February to 379 for March. This is a significant increase, but new listings are still down -6.2% from March of last year. The lack of homes for sale is still not keeping up with the demand because people are staying in their homes longer, and there have not been enough new homes built to satisfy the number of buyers.

After decreasing for three straight months, the number of active Chandler listings have now increased ever-so-slightly for the second straight month, going from 313 in January to 320 in March of this year. This is the lowest number of active listings for March since before 2018. Active listings in Chandler are now less than last year's March listings by -8.0%.
 

The lack of listings in Chandler continues to drive demand, and home prices higher. Median home values in Chandler have increased an average of 28.2% since March of 2021, which is almost unbelievable. Mortgage interest rates have started to increase above 4.25%, and the war between Russia and the Ukraine has caused inflation to really jump in the U.S., but it looks like there will still more buyers looking to purchase Chandler homes throughout the early part of 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 - March 2022
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 | [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.
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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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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