Chandler – Arizona

Chandler – Arizona

Chandler is a growing city located in the Southeast section of the Phoenix metropolitan area. Historically, the real estate market in Chandler has been very strong and has seen steady growth over the years. The technology sector plays a significant role in Chandler’s economy. The city is home to many high-tech companies, and it drives today’s demand for local housing.

This demand has been high, resulting in a competitive market for buyers, and compounded by low inventories, which has led to a steady increase in home prices. As of late, interest rates have slowed down the market and we’ve seen prices ease some from the highs of last year.

Chandler offers a mix of housing options and the city is still seeing some new construction projects to meet the growing population, providing opportunities for both buyers and renters. The city of Chandler has reached 93% build-out—meaning only 7% of the city’s land is available for new construction.  The future will most certainly include more vertical growth.  The latest data indicates a shift in the market dynamics, as prices are correcting and reaching a more balanced state.

MARKET DATA
(Sales Closed from July 1, 2023 to December 31, 2023)
SINGLE-FAMILY HOMES ONLY
MEDIAN PRICE:
$550,000
AVG PRICE:
$637,955
HOMES CLOSED:
964
AVG  SQ. FT:
2234

Based on information from Arizona Regional MLS for the period

TRENDS

Source: Arizona Multiple Listing System

*It’s important to note that the real estate market can be influenced by many factors, such as economic conditions, interest rates, and local markets. it’s always advisable to contact us for the most up-to-date and specific information.

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