Chandler AZ Real Estate Housing Market Report - May 2021
Days on market remained the same as last month, at a record low of 21, as I am not sure how much lower it could go. This means homes in Chandler continue to sell very fast.
The number of new listings are actually down -5.4% from May of last year, as many people are staying put, and there have not been enough new homes built to keep up with demand. The number of active listings remained about the same as the previous two months, but is down -30.4% overall from May of last year.
The lack of listings continues to drive demand, and home prices higher. Median home values in Chandler have increased an average of 34.9% since May of 2020, which is almost unbelievable. I wonder how much longer home values can continue to increase like this. With mortgage interest rates holding steady around 3.0%, there still seems to be more buyers looking to purchase in the new year than there are 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.
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.