Chandler Az Market Update October 2012

MARKET UPDATESolutions Real Estate

· Current Real Estate Market Conditions for Single Family Homes· Trends in Pricing· Current Levels of Supply and Demand· Value Metrics

· Report for the week ofOctober 15, 2012

· Presented by David DionSolutions Real Estatewww.SolutionsRealEstate.com - [email protected]

CHANDLER, AZ

Powered by Altos Research LLC | www.altosresearch.com | Copyright ©2005-2010 Altos Research LLC

Median List Price

Median Lot Size

26.0

Percent Relisted (reset DOM)

2045

2.0

9 %

Median Number of Bathrooms

94

Inventory of Properties Listed

$ 114

Percent Flip (price increased)

10 - 20 acres

Median House Size (sq ft)

$ 239,900

28 %

3.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

n/a

Percent of Properties with Price Decrease

Buyer's Advantage

±+

==

==

±+

±+

Altos Research Value Statistics

Most Expensive Listing

Average Days on Market (DoM)

Bottom/Fourth

Lower/Third

Upper/Second

Top/First

This Week Real-Time Market Profile Trend

The Market Action Index answers the question "How's the Market?" by measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.

Supply and Demand

Characteristics per Quartile

10 283541

762.0 17

3.0

36

89

3.0 229

93

31

28

10 - 20 acres

27

$ 199,500

32

33

230

3.0

6,501 -8,000 sqft

222.0

1374 not available

229

$ 129,000

4.0

118

6,501 -8,000 sqft$ 280,000

4.0$ 449,000

13

33

2368

With inventory, days-on-market, andthe Market Action Index all recentlyplateaued, the market is not sendingstrong directional signal for the near-term outlook.

Monday October 15, 2012

David Dion | Solutions Real Estate | 480-332-5942 | www.

229

1789

2.0

The median list price in CHANDLER,AZ this week is $239,900. The 917properties have been on the marketfor an average of 94 days.

Most expensive 25% of properties

Upper-middle 25% of properties

Lower-middle 25% of properties

Least expensive 25% of properties

Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOMSq. Ft.

No change

Strong upward trend Strong downward trend

Slight upward trend Slight downward trend±+

== ≠≠

≠=

CHANDLER, AZCity Overview

Least Expensive Listing

Average List Price

Average Age of Listing

917

$ 9,995,000

$ 39,900

$ 307,783

18

Trend Key:

The market has shown someevidence of slowing recently. Bothprices and inventory levels arerelatively unchanged in recentweeks. Watch the Market ActionIndex for changes as it can be aleading indicator for price changes.

Page 2 of 36

Single Family Homes in

Katy Katz, Associate Broker at Solutions Real Estate | www.KatyKatz.com | 602-618-0917


City OverviewCHANDLER, AZ


Median PriceThis week saw relatively little price change from last week. However, prices continue demonstrate a nice up trend in generalover the last several weeks.

90-day Average7-day Average

Quartile PricesPrices have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift(up or down) in the Market Action Index before prices move from these current levels.

First/Top Second/Upper Third/Lower Fourth/Bottom

Page 3 of 36






Price per Square FootThe market appears to be placing an increasing premium on homes. When list prices and price per square foot consistentlyincrease in tandem, as they're doing now, you can often find short-term investment opportunities. Watch the Market ActionIndex for persistent changes as a leading indicator for these trends to flatten or drop.


Inventory of Properties Listed for SaleInventory has been relatively steady around these levels in recent weeks.


Page 4 of 36






Market Action IndexThe CHANDLER market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day Market ActionIndex stands this week at 26.01 so buyers should expect to find reasonable levels of selection.

Buyers/Sellers Cutoff90-day Average

Market Action Index per QuartileThree of the four quartiles of the market are in the Buyer's Market zone with several months of inventory given the current rateof demand for homes in the quartile. Notice that Quartile 1 (the highest price group) is showing stronger demand than theothers. Current supply/demand levels identify Quartile 1 as a Seller's market as buyers seem to be placing emphasis on thepremium homes.


Buyers/Sellers Cutoff

Residential house prices are a function of supply and demand, and market conditions can be characterizedby analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’sAdvantage zone (below 30) for a long period, prices are likely in for a downward correction.

Page 5 of 36






Days on MarketThe properties have been on the market for an average of 94 days. Half of the listings have come newly on the market in thepast 57 or so days.


Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.


Page 6 of 36



Median List Price

Median Lot Size

33.3


1529

2.0

11 %


78


$ 102


not available


$ 164,450

24 %

3.0

Market Action Index



n/a


Seller's Advantage

≠≠

==

==

±+

±+




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


15 22822

682.0 21

3.0

6

65

3.0 34

108

8

7

not available

29

$ 135,500

7

5

34

3.0

not available

92.0

1277 not available

34

$ 95,000

3.0

72

not available$ 189,900

4.0$ 294,450

17

6

1688

Inventory has been tightening butdays-on-market and the Market ActionIndex have been basically unchanged,not providing strong indication formarket conditions.



34

1444

2.0

The median list price in CHANDLER,AZ 85225 this week is $164,450. The136 properties have been on themarket for an average of 78 days.






No change



== ≠≠

≠=

CHANDLER, AZ85225

Neighborhood Detail


Average List Price


136

$ 1,699,000

$ 39,900

$ 200,690

24

Trend Key:

In the last few weeks the market hasachieved a relative stasis point interms of sales to inventory.However, inventory is sufficientlylow to keep us in the Seller's Marketzone so watch changes in the MAI. Ifthe market heats up, prices arelikely to resume an upward climb.

Page 7 of 36




Neighborhood DetailCHANDLER, AZ

85225


Median PriceIn this zip code this week saw relatively little price change from last week. However, we continue to demonstrate a nice uptrend in general over the last several weeks.


Quartile PricesIn the quartile market segments, we see prices in this zip code have settled at a price plateau across the board. Prices in allfour quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move fromthese current levels.


Page 8 of 36





85225




Inventory of Properties Listed for SaleInventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look tothe Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.


Page 9 of 36





85225


Market Action IndexThe CHANDLER, 85225 market is currently in the Seller's Advantage zone (greater than 30). The 90-day Market Action Indexstands at 33.34 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly.


Market Action Index per QuartileTwo of the four quartiles of this zip code are in the Buyer's Market zone with several months of inventory given the current rateof demand. Notice that Quartiles 2 and 3 (the middle of the market) are showing stronger demand than either end, a Seller'smarket.




Page 10 of 36





85225






Page 11 of 36



Median List Price

Median Lot Size

27.3


1684

2.0

8 %


109


$ 124


6,501 - 8,000 sqft


$ 215,000

25 %

3.0

Market Action Index



n/a


Buyer's Advantage

≠≠

==

==

==

==




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


17 33050

952.0 22

3.0

6

89

3.0 19

137

2

2

not available

25

$ 176,900

4

1

19

3.0

not available

32.0

1356 not available

19

$ 140,000

3.0

113

6,501 -8,000 sqft$ 249,900

4.0$ 374,000

19

3

1922

Inventory has been lightening latelyand the Market Action Index has beentrending up. Though days-on-marketis increasing, these are mildly positiveindications for the market.



19

1609

2.0







No change



== ≠≠

≠=

CHANDLER, AZ85226

Neighborhood Detail


Average List Price


76

$ 9,995,000

$ 110,000

$ 451,793

21

Trend Key:


Page 12 of 36





85226


Median PriceDespite this week's down tic, price trends in this zip code have generally been moving up lately. We are below the market's highpoint, and we'll investigate the Market Action Index later on to see if we expect this week's blip to become a downward trend.




Page 13 of 36





85226






Page 14 of 36





85226


Market Action IndexThe CHANDLER, 85226 market is currently in the Buyer's Advantgae zone (below 30), though not strongly so. The 90-day MarketAction Index stands this week at 27.28 so buyers should expect to find reasonable levels of selection.


Market Action Index per QuartileThe lower end of this zip code are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. The high-end of the market is showing demand strength in the Seller's Market zone, while Quartiles 3 and 4 have aMarket Action Index below 30 (Buyer's Market).




Page 15 of 36





85226






Page 16 of 36



Median List Price

Median Lot Size

23.7


2818

2.0

11 %


106


$ 119


10 - 20 acres


$ 294,900

30 %

4.0

Market Action Index



n/a


Buyer's Advantage

±+

≠≠

==

==

==




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


7 94050

822.0 9

3.0

8

89

3.0 58

88

8

5

10 - 20 acres

12

$ 243,450

11

8

59

4.0

not available

93.0

1379 not available

58

$ 158,000

4.0

164

10 - 20 acres$ 348,500

5.0$ 567,325

9

5

3069

Even though the days-on-market istrending higher, so is the MarketAction Index at these inventorylevels, providing a neutral outlook forthe market.



58

2188

2.0







No change



== ≠≠

≠=

CHANDLER, AZ85249

Neighborhood Detail


Average List Price


233

$ 1,995,000

$ 40,000

$ 345,190

10

Trend Key:


Page 17 of 36





85249


Median PriceAgain this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus theirabsolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leadingindicator for a trough in prices.




Page 18 of 36





85249


Price per Square FootWe're seeing fairly unusual market conditions as prices have been in a downward trend but price per square foot is actuallyincreasing. (Buyers are paying less and getting less home for their money.) Anomalies like these can be attributed to micro-location variables.




Page 19 of 36





85249




Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.




Page 20 of 36





85249






Page 21 of 36



Median List Price

Median Lot Size

32.6


1587

2.0

7 %


81


$ 94


not available


$ 152,450

21 %

3.0

Market Action Index



n/a


Seller's Advantage

≠≠

±+

±+

==

≠≠




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


22 42708

812.0 30

3.0

2

56

3.0 24

104

4

1

not available

30

$ 139,450

1

6

24

3.0

not available

52.0

1405 not available

23

$ 114,000

3.0

84

not available$ 175,000

4.0$ 280,000

26

4

1608

Inventory has been decreasing latelybut the Market Action Index is fallingalso. With days-on-market climbing,these are relatively negativeimplications for the market.



23

1511

2.0







No change



== ≠≠

≠=

CHANDLER, AZ85224

Neighborhood Detail


Average List Price


94

$ 977,500

$ 55,000

$ 193,253

27

Trend Key:

In the last few weeks the market hasachieved a relative stasis point interms of sales to inventory.However, inventory is sufficientlylow to keep us in the Seller's Marketzone so watch changes in the MAI. Ifthe market heats up, prices arelikely to resume an upward climb.

Page 22 of 36





85224


Median PriceWe continue to see prices in this zip code hovering around these current levels, even though they bumped up a bit this week.Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here.




Page 23 of 36





85224


Price per Square FootThe market plateau is seen across the price and value. The price per square foot and median list price have both beenreasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves fromthese levels.




Page 24 of 36





85224


Market Action IndexThe CHANDLER, 85224 market is currently in the Seller's Advantage zone (greater than 30). The 90-day Market Action Indexstands at 32.64 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly.


Market Action Index per QuartileThe lowest-end of this zip code (Quartile 4) is the only segment in the Buyer's Market zone with several months of inventorygiven the current levels of demand. The rest of the market is showing demand strength in the Seller's Market zone.




Page 25 of 36





85224






Page 26 of 36



Median List Price

Median Lot Size

22.2


2032

2.0

8 %


95


$ 126


6,501 - 8,000 sqft


$ 255,000

32 %

3.0

Market Action Index



n/a


Strong Buyer's

==

±+

==

≠≠

≠≠




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


11 53147

702.0 20

2.0

6

118

2.0 63

91

9

3

not available

31

$ 225,000

4

13

64

3.0

6,501 -8,000 sqft

42.0

1489 not available

63

$ 141,900

3.0

102

6,501 -8,000 sqft$ 298,890

4.0$ 449,900

16

6

2202

Inventory is up and Market Action istrending down recently. While days-on-market appears to be trendinglower, the overall conditions areweakening a bit.



63

1873

2.0







No change



== ≠≠

≠=

CHANDLER, AZ85248

Neighborhood Detail


Average List Price


253

$ 5,500,000

$ 59,900

$ 320,641

19

Trend Key:


Page 27 of 36





85248


Median PriceWe continue to see prices in this zip code hovering around these current levels, even though they bumped up a bit this week.Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here.




Page 28 of 36





85248


Price per Square FootThe value placed on homes continues to increase, despite the fact that prices in general have been basically flat recently.These conditions can arise when inventory is light and more, smaller homes have more influence on overall prices.


Inventory of Properties Listed for SaleInventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the MarketAction Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.


Page 29 of 36





85248


Market Action IndexThe CHANDLER, 85248 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 22.15. With several months of inventory available at the current sales rate, buyers should find ample choice.


Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.




Page 30 of 36





85248






Page 31 of 36



Median List Price

Median Lot Size

23.9


2494

3.0

8 %


86


$ 116


10 - 20 acres


$ 292,000

30 %

4.0

Market Action Index



n/a


Buyer's Advantage

±+

==

==

±+

==




Bottom/Fourth

Lower/Third

Upper/Second

Top/First



Supply and Demand


9 23834

1433.0 10

3.0

5

59

4.0 31

71

4

3

10 - 20 acres

12

$ 265,000

2

2

32

3.0

not available

63.0

1807 not available

31

$ 194,000

4.0

71

6,501 -8,000 sqft$ 325,000

5.0$ 474,700

11

5

2747

With inventory and days-on-marketbasically unchanged and the MarketAction Index increasing, the market isnot sending strong directional signalfor the near-term outlook.



31

2192

2.0







No change



== ≠≠

≠=

CHANDLER, AZ85286

Neighborhood Detail


Average List Price


125

$ 945,000

$ 80,000

$ 327,115

11

Trend Key:


Page 32 of 36





85286


Median PriceThe market for this zip code continues its bounce again this week. We're a long way from the market's high point so watch theMarket Action Index to predict how long this trend will last.




Page 33 of 36





85286






Page 34 of 36





85286




Market Action Index per QuartileThree of the four quartiles of this zip code are in the Buyer's Market zone with several months of inventory given the currentlevels of demand. Quartile 1 (the highest price group) is showing stronger demand than the others, a Seller's market, as buyersseem to be placing emphasis on the premium homes.




Page 35 of 36





85286






Page 36 of 36



Date post:	22-Mar-2016
Category:	Documents
Upload:	katy-katz
View:	215 times
Download:	1 times

Chandler Az Market Update October 2012

Documents