Chandler Closings for March 2012

When comparing my January 2011 blog “Chandler Closings December 2010” to the past month, March 2012, there have been significant changes in the market since then:

Dec 2010
Total Inventory 2,737
Active  1,885
Pending  852
Chandler Closings 454
Lender owned 184 (41%)
Regular transactions 170 (38%)
Short Sales 93   (21%)
Averages for each zip code:

Zip Code DoM Sq Ft List Price Sold Price $ PSF
85224 91 1683 $   148,600 $   144,073 $   81
85225 112 1483 $   113,448 $   109,487 $   71
85226 123 1520 $   151,055 $   143,568 $   91
85248 123 2293 $   273,076 $   258,005 $   106
85249 128 2515 $   257,664 $   248,611 $   99
85286 101 2334 $   240,779 $   233,790 $   100

 

 


March 2012

Total Inventory 1,849
Active 591
Pending 1,258
Chandler Closings 533
Lender owned 80   (15%)
Regular transactions 308 (58%)
Short Sales 145 (27%)
Averages for each zip code:

Zip Code DoM SQFT List Price Sold Price SP-LP % $  PSF
85224 62 1653 $ 134,299 $  134,835 101% $  87
85225 74 1599 $ 127,559 $  125,381 98% $  77
85226 94 1649 $ 164,411 $  164,101 100% $  98
85248 112 2267 $ 253,342 $  245,461 97% $111
85249 96 2819 $ 259,057 $  253,408 98% $100
85286 72 2016 $ 256,736 $  250,899 99% $103

The 533 closings in March 2012 consisted of 198 (38%) cash, 194 (36%) Conventional loan, 111 (21%) FHA and 28 (5%) VA transactions.  With current foreclosures down significantly, lender owned properties only made up 15% of all closings for March 2012 while regular transaction were at 58%, a 20% increase from 15 months ago!

Average Sold Price has dropped in zip codes 85224 and 85248 while 85225, 85226, 85249 and 85286 all went up.  Price per square foot has increased in all zip codes.

Currently, we have a 2.5 months supply of inventory and properties are getting multiple offers.  I submitted an offer on behalf of a client that had 12 offers in which our offer was accepted….another had 20 offers!  Many buyers getting loans are competing with cash buyers and this can be very frustrating for a buyer so make sure you have an experienced real estate agent.

If you’re thinking of making a move and would like an in-depth analysis of a particular area or neighborhood, give me a call.

Stephanie Weiss 480.273.7472.  Stephanie Weiss Moves

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