The majority of buyers in Chandler are buying in the $100-200K market because approximately 48% of the properties in that price range are currently pending. The $200-300K market follows with 25% and the data shows that from Jan 2009 thru Feb 2010, the average sale price in Chandler was $219K.
I also pulled the TOTAL MONTHLY CLOSINGS, AVERAGE SOLD PRICE, AVERAGE PRICE PER SQUARE FOOT and AVERAGE % OF LIST PRICE (meaning the % of price closed of the list price) over the past 14 months. The graph shows June 2009 has had the most closings of 473, with a monthly average of 362 and the 14 month total for Chandler was 5,071. If no new listings were added, we would have approximately 4.85 months of inventory left but I’m relatively certain new listings will continue to be added to the market. The price PSF averaging $105 was at it’s lowest in Aug and Dec of 2009 when it was at $101. The % of list price has risen since Jan 2009 which I believe may be due to agents properly pricing the listing to get it sold therefore the actual closed price is closer to the list price.
Please note this is data pulled from the Arizona Regional Multiple Listing Service.