Gilbert and Chandler have been hit very hard during the housing market meltdown of the past several years but lower interest rates and pent up demand have fueled a significant recovery in Gilbert, Chandler and the surrounding East Valley cities of Mesa, San Tan Valley, Queen Creek, Tempe and Ahwahtukee.
Ralph Bredahl, Associate Broker at HomeSmart Realty in Gilbert put it this way. “We have seen several years of falling prices, foreclosures, limited inventory and Gilbert & Chandler short sales. Add to that, declining new home construction starts and it’s easy to see why potential home buyers were forced to sit on the sidelines and wait”.
But in recent months we have seen a turn around as builders are building, more homes on the market as prices rise and continued low interest rates. These factors have fueled a resurgence of the real estate market in the East Valley and especially Gilbert and Chandler.
Gilbert Arizona and the Real Estate Market
Gilbert Arizona is a town in Maricopa County, just southeast of Phoenix, within the Phoenix metropolitan area.
It was recognized in 2010 as among the nation’s “top places to live and learn” by GreatSchools.org. Washington-based and C.Q. Press rated the town the “safest municipality in Arizona, and 24th safest in the nation,” in their annual report released November 2009 using FBI statistics.
Gilbert has added 98,756 people over the past 10 years, the second-largest numerical increase in the state (second to only Phoenix) and nearly a third of Gilbert's population (32.11 percent) is younger than 18. Gilbert population in 2012 is 208,453.
The median sales price for homes in Gilbert AZ for Aug 12 to Oct 12 was $220,000. This represents an increase of 10%, or $20,000, compared to the prior quarter and an increase of 27.2% compared to the prior year.
Popular neighborhoods in Gilbert include Agritopia, San Tan Ranch, Power Ranch, Lyons Gate, Cooley Station North, Seville, Layton Lakes, Val Vista Lakes, The Islands, Spectrum Estates and Trilogy.
Chandler Arizona and the Real Estate Market
Chandler is a prominent suburb of the East Valley of Phoenix, Arizona. It is bordered to the north and west by Tempe, to the north by Mesa, to the west by Phoenix, to the south by the Gila River Indian Community, and to the east by Gilbert.
As of 2012, Chandler's population is 236,123. Since 2000, it has had a population growth of 28.73 percent. The median sales price for homes in Chandler AZ for Aug 12 to Oct 12 was $205,000 based on 1,516 home sales. Compared to the same period one year ago, the median home sales price increased 20.6%, or $35,000,
Popular neighborhoods in Chandler include Sun Groves, Cooper Commons, Fulton Ranch, Ocotillo, Sun Lakes, Circle G Ranches and Clemente Ranch.
The area growth and Real Estate prices are expected to continue for the foreseeable future and potential home owners are making the decision to buy now while Gilbert and Chandler homes are still affordable. Search for Gilbert and Chandler Homes for sale.
Ralph & Tricia Bredahl
2680 S Val Vista
Gilbert AZ 85295