Chandler AZ – Real Estate Market Data – August 2011
Click here for full report – Chandler 2011-08
August Property sales were 494, up 33.9% from 369 in August of 2010 and 0.8% higher than the 490 sales last month. August 2011 sales were at their highest level compared to August of 2010 and 2009. August YTD sales of 3,715 are running 24.7% ahead of last year’s year-to-date sales of 2,980.
The Median Sales Price in August was $150,000, down 4.5% from $157,000 in August of 2010 and equal to $150,000 last month. The Average Sales Price in August was $187,337, down 2.8% from $192,723 in August of 2010 and up 3.0% from $181,958 last month. August 2011 ASP was at the lowest level compared to August of 2010 and 2009.
Inventory & MSI
The Total Inventory of Properties available for sale as of August was 1,247, up 0.4% from 1,242 last month and down 39.1% from 2,049 in August of last year. August 2011 Inventory was at its lowest level compared with August of 2010 and 2009.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The August 2011 MSI of 2.5 months was at its lowest level compared with August of 2010 and 2009.
The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for August was 64, up 3.2% from 62 days last month and up 4.9% from 61 days in August of last year. The August 2011 DOM was at a mid level compared with August of 2010 and 2009.
Copyright © Coldwell Banker Residential Brokerage – Data is provided courtesy of Arizona Regional Multiple Listing Service, Inc.; Tucson Association of Realtors and Prescott Area Association of Realtors and may not reflect all relevant real estate activity. Coldwell Banker Residential Brokerage does not guarantee the accuracy of this information. It is the responsibility of any buyer or seller to verify any and allinformation relevant to such consumer’s real estate transaction.