Chandler AZ Real Estate Housing Market Report - September 2021
After decreasing to an all-time low of 20 DOM in August, the days on market increased back up to 24 for September. This is the highest the Chandler DOM has been since February of 2021. 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, driving prices up.
The number of new listings are down -6.9% from September of last year, as many people continue to stay put, and there have not been enough new homes built to keep up with demand. At 650, the number of active listings has decreased for the second straight month, and is down -4.7% from September of last year. This is much closer to what we saw in 2020 compared to earlier in the year when the number of new listings were down close to -20.0%.
The lack of listings continues to drive demand, and home prices higher. Median home values in Chandler have increased an average of 23.3% since September of 2020, which is almost unbelievable. I wonder how much longer home values can continue to increase like this. With mortgage interest rates remaining around 3.0%, there are still more buyers looking to purchase in 2021 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.