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Old 06-04-2021, 03:12 PM
 
4,171 posts, read 8,043,072 times
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I just did a quick MLS statistical CMA for "single family detached" houses in Chandler to determine the median sales price. I did the last 120 days and since the market is increasing I did the last 90 days as well. This doesn't take into account the price per square foot which might be a better comparison. Here's the median prices:

Last 120 day median price: $471,500
Last 90 day median price: $477,000

Less important stat is the average price which can be impacted by an oddball high sale:

Last 120 day average price: $536,000
Last 90 day average price: $537,500
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Old 06-04-2021, 04:32 PM
 
5,409 posts, read 3,336,642 times
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Quote:
Originally Posted by asufan View Post
No, I don't have a link. I am saying that there are likely a lot more renters in San Diego as historically it has been a place that is cheaper to rent than own.

Your median home price in Chandler is way off. No, I don't have a link but there's hardly anything below $300K in Chandler, so no way is $280k the median.

Off.... but not way off. $317,000 is median here:
https://www.homes.com/chandler-az/wh...my-home-worth/


But then here's San Diego in 2021
https://www.cbs8.com/article/money/s...6-6d58a132b032

Here's another at 800k
https://www.nbcsandiego.com/news/bus...month/2607016/

A year ago the median price was 671k

Here's Chandler home median 2021
455k
https://www.realtor.com/realestatean...er_AZ/overview

452k
https://www.redfin.com/city/3104/AZ/...housing-market

We're still talking a 375k difference in price.
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Old 06-04-2021, 04:40 PM
 
4,171 posts, read 8,043,072 times
Reputation: 4214
Quote:
Originally Posted by john3232 View Post
Off.... but not way off. $317,000 is median here:
https://www.homes.com/chandler-az/wh...my-home-worth/


But then here's San Diego in 2021
https://www.cbs8.com/article/money/s...6-6d58a132b032

Here's another at 800k
https://www.nbcsandiego.com/news/bus...month/2607016/

A year ago the median price was 671k

Here's Chandler home median 2021
455k
https://www.realtor.com/realestatean...er_AZ/overview

452k
https://www.redfin.com/city/3104/AZ/...housing-market

We're still talking a 375k difference in price.

Yeah, I wouldn't get my info from homes.com as their information is obviously not close to reality. I have access to the real data. Redfin and Realtor.com are closer.
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Old 06-04-2021, 04:59 PM
 
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We’re still talking roughly 320k more for a home in SD than in Chandler

770k
https://www.redfin.com/city/16904/CA...housing-market
775k
https://www.realtor.com/realestatean...go_CA/overview

Chandler
452k
https://www.redfin.com/city/3104/AZ/...ousing-market:
455k
https://www.realtor.com/realestatean..._AZ/overview\\


Income:
Chandler income 2020
Household median income 82k - married families mean 135k
https://worldpopulationreview.com/us...-az-population

San Diego income 2020
Household median income 79k - married families mean - 145k
https://worldpopulationreview.com/us...-ca-population

It appears incomes in Chandler are roughly the same as SD. However home prices are roughly 325k more expensive!

So… how do some working class people in SD buy a home?

My guess is this:
The Somali community in City Heights/San Diego which is home to the second-largest Somali community in the United States, is 10,000 strong. I suspect family members buy a house together and share it. Not unlike what the Chinese did in SF

Last edited by john3232; 06-04-2021 at 05:18 PM..
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Old 06-04-2021, 06:48 PM
 
5,409 posts, read 3,336,642 times
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Home prices in City Heights mentioned above: 507k
https://www.redfin.com/neighborhood/...-market#trends

When my mother was living in SD I often passed by this area. I would say it's not as rundown as West Mesa but it is sketchy. Yes, gentrification is taking place... but if you've got the big bucks no way are you buying in City Heights.

Yet, 507k is the median sale price.
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Old 06-05-2021, 07:09 AM
 
Location: Phoenix
54 posts, read 15,637 times
Reputation: 105
Quote:
Originally Posted by john3232 View Post
We’re still talking roughly 320k more for a home in SD than in Chandler

770k
https://www.redfin.com/city/16904/CA...housing-market
775k
https://www.realtor.com/realestatean...go_CA/overview

Chandler
452k
https://www.redfin.com/city/3104/AZ/...ousing-market:
455k
https://www.realtor.com/realestatean..._AZ/overview\\


Income:
Chandler income 2020
Household median income 82k - married families mean 135k
https://worldpopulationreview.com/us...-az-population

San Diego income 2020
Household median income 79k - married families mean - 145k
https://worldpopulationreview.com/us...-ca-population

It appears incomes in Chandler are roughly the same as SD. However home prices are roughly 325k more expensive!

So… how do some working class people in SD buy a home?

My guess is this:
The Somali community in City Heights/San Diego which is home to the second-largest Somali community in the United States, is 10,000 strong. I suspect family members buy a house together and share it. Not unlike what the Chinese did in SF
This is what occurred in the DC area 35 years ago with the immigration of the Vietnamese community. Two or three families would pull their money together buy a home, buy a business and depend on each other to make it.
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Old 06-05-2021, 10:29 AM
 
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IRS: California shrank by 165K taxpayers, $8.8 billion in gross income - 2018 and 2019.
Texas was the primary destination for California ex-pats, with 72,306 total exemptions leaving to go there. Neighboring Arizona saw 53,476 total filing exemptions come from California. The two states saw a gross income boost of $3.4 billion and $2.2 billion, respectively.
https://www.thecentersquare.com/cali...1eeeab5b6.html

And this was before the pandemic/lockdown and Elon Musk and the like started leaving.

Last edited by john3232; 06-05-2021 at 10:39 AM..
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Old 06-05-2021, 11:10 AM
 
5,409 posts, read 3,336,642 times
Reputation: 4325
Quote:
Originally Posted by Trail Dreamer View Post
This is what occurred in the DC area 35 years ago with the immigration of the Vietnamese community. Two or three families would pull their money together buy a home, buy a business and depend on each other to make it.

The refugees from Southeast Asia who flooded SF during the mid-70's were interesting. It wasn't long before I began to notice liquor stores run by them. Now, sometimes the person behind the counter who spoke little or no English was unaware of the age requirement to buy alcohol. My friends and I usually had no trouble finding a liquor store to sell us booze back then.
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Old 06-05-2021, 11:28 AM
 
Location: Phoenix
54 posts, read 15,637 times
Reputation: 105
Quote:
Originally Posted by john3232 View Post
The refugees from Southeast Asia who flooded SF during the mid-70's were interesting. It wasn't long before I began to notice liquor stores run by them. Now, sometimes the person behind the counter who spoke little or no English was unaware of the age requirement to buy alcohol. My friends and I usually had no trouble finding a liquor store to sell us booze back then.
We never had a problem finding a way to buy booze back then either come think of it!
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Old 06-05-2021, 07:27 PM
 
Location: The Grand Canyon State
6,811 posts, read 3,589,311 times
Reputation: 5769
I suspect Arizona will have a house building boom to support the new remote worker. The bedroom communities of 2006 such as Surprise, Buckeye, even farther out won't have the commute issues where it required build out the 101, 202, 303 freeways.

My employer went from around 800 remote workers a day to almost 5000 a day now they have decided that most will continue to work remote even after covid who are working remote today. Were only talking about a company with around 9000 employees that's over 50%. That kind of change is going to drive changes into where we can live home builders only need to supply internet which is lot easier then building 5 lane freeways. Arizona is one of few states which has lot of open land that doesn't have risk of flooding, Tornados, earthquakes, or Hurricanes. The only issue I see is water supply something have to be done such as a pipeline to bring water from east of the rocky mountains to the west side.
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