Chandler, Arizona

Chandler, Arizona had a large rise in value of housing sales cost – it was $292,500, an increase from $273,000 the previous year. The houses that sold figure was nearly the same, 338 in 2017 when compared to 334 in 2016. $161 was the per square foot cost average, an increase from last year which was $155 average per square foot cost.

For houses that have a contract it’s taking 23 days to sell them as an average.

An important figure is that on the market there are 542 houses. This is less than the quantity of houses that have a contract and are scheduled to close. That figure is 586 homes.

$313,900 is the present pending sales cost. And the per square foot cost is $169. Inventory is extremely low. A very strong sellers market exists.

There is a varied group of house sellers and house purchasers. The number one group in numbers is Millennials. The second biggest group is sellers and buyers who are trading upwards in home value or they are downsizing. These people mostly sell their houses and don’t rent them.

There are some fortunate home sellers who bought their property when prices were low following the crash of the market, and they are selling their homes now, reaping great financial reward.

As far as Chandler commercial real estate goes, Chandler is growing which is causing a need for industrial and office properties. This need is coming quite a bit from technology companies. Vacancy is low in industrial and office property. This is a strong sign that Chandler is ready for new construction of commercial properties – a healthy economic indication. The commercial realty market is competitive in Chandler due to low vacancy. Businesses that want commercial space in Chandler have to compete for it.

And there is a lot of skilled labor in financial services and technology here. Thus, many employers are looking for a home here to employ these valued people.