Chandler Land

An In-Depth Look at the Chandler Land Market

The Chandler land market's dynamics have evolved significantly over the past few months, attributed primarily to shifting inventory levels and price adjustments.

• Over the past month, the number of active listings reached 14, which marks a mild increase from 13 listings three months ago. This change suggests a steady inflow of new options for prospective buyers, offering a broader selection than in recent months.
• The current months of inventory at 7.0 reflect a gradual increase from 6.5 months, indicating that the market is leaning slightly more towards buyer conditions. Generally, a higher months of inventory suggests a slower market where buyers have more time to deliberate on their decisions.
• Sold prices appear to have stabilized with an average of $0 recently, following a trend where only one listing sold for $1,290,000 three months ago. This fluctuation in sold listings points to either reduced buyer activity or a potential hesitance from sellers to list at certain prices, especially given the high average DOM currently observed at 160 days.
• The average price per square foot has registered at $20, showcasing the need for sellers to be strategic about pricing to attract buyers, particularly in light of a sluggish sales environment when paired alongside extended DOM metrics.
• Sellers should consider these trends carefully; with currently longer DOM and increased inventory, pricing strategies may need to adapt to maintain competitiveness in the market. Meanwhile, buyers may benefit from this slight market shift, positioning themselves to negotiate potentially better deals as inventory levels remain elevated.

Overall, both buyers and sellers can expect a market that necessitates ongoing attention to evolving trends, particularly regarding prices, inventory, and the longevity of listings.