Chandler AZ Real Estate Housing Market Report - December 2021
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.
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.
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.
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.