Chandler, Gilbert, Mesa, Phoenix, Tempe and Scottsdale home sales prices are up dramatically when comparing June 2015 prices to a year ago. There is just too little inventory and buyers are willing to pay fair market asking prices to get their offers accepted.
- Chandler AZ home sales are up 28%, prices up 6% with inventory down 12% to only 3.1 months of inventory.
- Gilbert AZ home sales are up 26%, prices up 5% with inventory down 15% to only 2.7 months of inventory.
- Mesa, AZ home sales are up 15%, prices up 10% with inventory down 14% to only 3 months of inventory.
- Phoenix, AZ home sales are up 19%, prices up 12% with inventory down 14% to only 3.1 months of inventory.
Looking at all property types and areas, Active listings are down 21.5% and sales are up 19.7% with only 2.1 months of inventory. For all the details, checkout my AZ Market Report
This is NOT a runaway Phoenix real estate market. Homes not properly priced sit on the market. But there are plenty of buyers for clean, well kept, well maintained and properly priced homes.
FYI, rents are up, too. If you are renting now, your landlord won't want to lose a good tenant. But if you are looking for another property, you are going to see high rents is close in, desirable Phoenix neighborhoods. If you are thinking Urban, rents are soaring in downtown Phoenix in areas like Roosevelt Row and Central Core or the Camelback Corridor.
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