We had another good month in Chandler. Sales continue to continue at a fast pace, and at this moment, we have 4.36 months of supply. For the record, inventory is calculated by (active + pending)/sold. Looking at the inventory per price range, it follows a very reasonable pattern with the lowest price range going the fastest and the highest price range going the slowest. For houses at $100,000 and lower, there is only 3 months of supply. This means that if no other homes hit the market, in 3 months, there will be no more homes.

Chandler Housing Supply

Although the supply increases with the price, it is interesting to note that the actual number of homes in each price range does not increase. Pretty clearly, $150k-$200k is where most of the homes are in Chandler. This is where the overlap of the investors and first time home buyers occur. Investors I’ve been working with are primarily interested up to $200,000 for cashflow purposes. In the mean time, many of my first time home buyers are qualified between $175k and $250k. It’s a good thing there’s strong demand and supply at the same price point.

Chandler Real Estate and Homes for Sale

Given these charts and tables, one thing is very clear. If you are interested in buying up to the $250k range, be prepared to make a very strong offer. Gone are the days where the buyer can pick any home they want at any price they desire. If you’re selling your home, please look at this table.

We are seeing about 3.5 months on market for a property to sell. At the same time, the average home is selling for pretty near full price. That means pricing the home correctly will bring in full price offers. Overall, homes in Chandler are selling for about $110/sqft.

Chandler Real Estate Update