The Ryan Whyte Team Blog: November 2013

The Current Phoenix/Chandler Real Estate Market Update from Cromford

Here is the latest daily observation from The Cromford Report on the local Phoenix/Chandler real estate market.  Chandler is showing a bit of improvement while Gilbert continued to weaken.  I've copied and pasted the report here:

The Cromford® Market Index has found a stable level at around 97.2, within the balanced zone with a slight bias in favor of buyers. This is for all areas & types within ARMLS. If we examine the single family market within the major cities we find:

  • Tempe is improving strongly from 75.9 to 78.7 over the last week and is even above the 78.5 we saw last month. The demand index is up sharply in Tempe and the supply index has started to fall.
  • Chandler is showing stronger signs - up from 104.7 to 105.6 over the last week - 108.9 last month. Demand is well up and supply has stabilized.
  • Glendale is also showing improvement - up from 106.6 to 107.6 over the last week - 112.1 last month. Demand is up and supply has stabilized.
  • Scottsdale is up slightly from 99.5 to 99.9 over the last week - 112.3 last month. Demand is up and supply has stabilized.
  • Peoria is stable - unchanged from 90.6 over the last week - 105.0 last month. Demand is showing first slight signs of improvement.
  • Mesa is stable - down from 96.7 to 96.6 over the last week - 104.8 last month. Demand is well up but supply is still growing too.
  • Avondale is showing its first signs of stabilizing - down from 95.4 to 93.9 - 111.5 last month. Demand is increasing but supply is still growing too.
  • Queen Creek is still deteriorating, albeit more slowly - down from 61.2 to 60.0 over the last week - 72.9 last month. Demand is flat and supply is growing.
  • Phoenix is still gently falling - down from 95.3 to 93.5 over the last week - 106.4 last month. Demand has stopped falling but supply is growing.
  • Gilbert is still weakening - down from 89.5 to 87.1 over the last week - 100.9 last month. Demand is still weak and supply is growing.
  • Goodyear is weaker - down from 87.3 to 84.5 over the last week - 106.8 last month. Demand is stabilizing but supply is still growing strongly.
  • Surprise is doing poorly - down from 79.9 to 76.5 over the last week - 92.8 last month. Demand is weak and supply is growing strongly.

The above list is ranked by how well it has performed over the last week. There is a big difference between Tempe at the top and Surprise at the bottom. Three of the top four cities are in the golden rectangle centered on Scottsdale Road and Rural Road. This area tends to recover fastest from any downturn in the market. The bottom 5 cities have the disadvantage that they get the biggest share of supply from new construction, which helps buyers retain an advantage in negotiations. This is because resale home sellers have additional competition from new home builders. Tempe sellers has the advantage of competing with almost no new single family homes added to the supply.


If you would like to discuss your home's value or are interested in finding out if now is a good time for you to buy a home, please contact The Ryan-Whyte Team at RE/MAX Infinity at 480-726-7000 or visit our website to read all of the Cromford Report daily updates at http://www.chandlerocotillo.com

Chandler Real Estate Agents

Bill Ryan

Bill Ryan

RE/MAX Infinity Chandler

The Current Phoenix/Chandler Real Estate Market Update from Cromford
share
Here is the latest daily observation from The Cromford Report on the local Phoenix/Chandler real estate market. Chandler is showing a bit of improvement while Gilbert continued to weaken. I've copied and pasted the report here: The Cromford®… more
Chandler Compadres Inducted in Celebration Plaza, Chandler Arizona
share
The City of Chandler honored the Chandler Compadres in Celebration Plaza this week. The group was recognized for their significant contributions to the community. Pictured is Bill Ryan, Chandler Arizona Real Estate Agent and Past… more
A Special "Thank You" from The Ryan-Whyte Team, Chandler…
share
Tis the season of giving thanks, for family, for friends, for health, for home, and for our many blessings. It's that time of year when we step back and review the joys and blessings and the losses and difficult times and learn to be grateful for… more
Check Out Fannie Mae's HomeStyle Renovation Mortgage Program!
share
One of our preferred lenders, Ron Duranti of Peoples Mortgage Company, just told us about an awesome Fannie Mae program called HomeStyle Renovation Program. This mortgage is perfect for people who are looking to finance a fix up home or wanting to… more
Cheap Short Sale Home For Sale in Arizona! 21386 S 213th Pl w/basement
share
As you may have noticed, basement homes are hard to come by in Arizona. Here's your opportunity to own a super nice 5 bedroom, 3 1/2 bath basement home for sale in Queen Creek. This home has 3250 square feet, a 3 car garage, and was built by VIP… more
Buying or Selling a Home During The Holiday Season Can Be Advantageous
share
"WHAT? ", you say. "Has Bill gone and lost his mind? Everyone knows that no one wants to go through that right now. The buyers are all hibernating for heaven's sake! " Yes, yes, yes. I know that's the common… more
10540 E Coopers Hawk Dr, Sun Lakes Arizona, Ironwood Community!
share
This 2 bedroom, 2 bath home is located in the heart of Sun Lakes Ironwood, a gated community, and is surrounded by lakes and golf courses! This home features a formal living room plus a family room, energy efficient dual pane windows, cherry wood… more
Update on the Phoenix and Chandler AZ Real Estate Market
share
The latest from The Cromford Report: The contract ratio for all areas and types plummeted from 90. 5 on June 17 to 37. 2 on November 2, going from hot to tepid at the same time. However it has hardly moved since November 2, standing at 37. 8… more
1935 W Mockingbird Dr, Chandler AZ 85286, Clemente Ranch Open House!
share
We would love for you to stop by our open house on Saturday, November 16th from 11-2 at 1935 W Mockingbird Dr, Chandler AZ. This Clemente Ranch Open House will really wow you. It's an entertainer's dream! 3 bedrooms plus a den, 3 full bathrooms,… more
3083 E Bellerive Dr, Chandler AZ 85249, Springfield Lakes Open House!
share
On Saturday, November 16th, the home at 3083 E Bellerive Dr in Springfield Lakes Chandler will be held open from 11 am to 3 pm. Don't miss this wonderful, single level home on a North/South corner lot. This home boasts a very open floor plan… more