Chandler AZ – Real Estate Market Data – February 2012
Click here for full report – Chandler 2012-02
February Property sales were 401, up 15.2% from 348 in February of 2011 and 15.9% higher than the 346 sales last month. February 2012 sales were at their highest level compared to February of 2011 and 2010. February YTD sales of 747 are running 13.0% ahead of last year’s year-to-date sales of 661.
The Median Sales Price in February was $160,000, up 6.3% from $150,500 in February of 2011 and up 2.8% from $155,606 last month. The Average Sales Price in February was $192,262, up 4.1% from $184,617 in February of 2011 and up 1.1% from $190,163 last month. February 2012 ASP was at a mid range compared to February of 2011 and 2010.
Inventory & MSI
The Total Inventory of Properties available for sale as of February was 983, up 0.9% from 974 last month and down 43.9% from 1,752 in February of last year. February 2012 Inventory was at its lowest level compared with February of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The February 2012 MSI of 2.5 months was at its lowest level compared with February of 2011 and 2010.
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 February was 62, equal to 62 days last month and down 19.5% from 77 days in February of last year. The February 2012 DOM was at its lowest level compared with February of 2011 and 2010.
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 all information relevant to such consumer’s real estate transaction.