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Real estate journal

Buying the Right Home in the Right Area

There are currently 113 homes listed at Realtor.com and no doubt more on the market if you choose a local agent. Prices range from the low $100,000 to well over $400,000, each home exhibiting plenty of value. Homes available have the beautiful southwestern color characteristics. Terracotta roofs seem a standard material in these condominium communities. Median price for a condominium is $242,450 and the average price per square feet is $155. Median income is a little over $72,000 per year, this is considered typical for a vibrant technology-based economy.

Each community is well situated to provide quick access to all the amenities of Chandler. Many of the communities are located around the abundant number of golf courses in the area (there are 330 days of sunshine) and the Price Road Corridor. High tech employment abounds in Chandler and condominium homes are the perfect answer to the housing question.

An abundance of communities exist to serve the Price Road Corridor. The area is home to Orbital Sciences, eBay, and PayPal along with Intel and Wells Fargo. The technology-rich area is seeing a major influx of well-paid workers and executives. Communities serving the corridor have all the necessary upgrades that many of these families need. Upgraded security systems for many of the gated communities. Top of the line, internet infrastructure improvements with cabling directly into the home. There are additional expansion plans that will give the Price Road Corridor similarities to Silicon Valley. As more and more high tech companies call Chandler home, prices for their condominiums are seeing sizable price appreciation. Supply and demand dynamics are very strong.

The robust real estate market is getting better every month. Average time on the market for a home is around 51 days, even that number is getting shorter. Demographics bear out, Chandler is a hotbed of technology with 76% of all residents, homeowners. Over 50% of the population is college educated and the average age is only 34. The majority of communities are to the north and west of downtown Chandler, more are planned for in and around the Price Corridor. Experts feel the price for communities like the Serenity at Fulton Ranch are seeing prices explode, because the physical limits of the city have been reached.

San Marcos Commons would be considered a good example of condominium living for the ambitious technology worker. These condominiums are located in downtown Chandler above the 202 loop. Average price is around $280,000 with nearly all the units sold. Average square footage is between 1300 to 2000. Each home is Mission style with 2 car garages. Homes offer shopping and restaurants within walking distance. The average days on the market is a very brisk 7 days. The build-out continues for more technology space for incoming tech businesses, expect to see these same market times for many of the new condominium communities.

Chandler has done an excellent job of keeping the cities rich and colorful heritage. Creating employment infrastructure based on high paying technology jobs will pay dividends well into the future.

Expect to see a thriving condominium housing market for years to come with communities seeing strong value appreciation for all units. Communities will continue to expand as new homes and phases are added throughout the area. The expansion of technology areas, such as the Price Road Corridor and other technology centers will see huge additions of new communities on the upper end of the price scale. The city of Chandler will build out infrastructure to meet the demands of incoming businesses. It is advisable, if you see a condominium in your desired area, make an offer as soon as possible.