A lot of buyers and sellers are asking the same question right now:

“Why are so many homes suddenly selling below asking price?”

At first glance, that sounds alarming. Many buyers think the market must be crashing, while homeowners wonder if they already missed the best time to sell.

But when we step back and look at the historical data—nationally, across Phoenix, and right here in Chandler—the market is behaving much more normally than most headlines suggest.

This week’s update breaks down:

• Why selling below asking price is actually normal

• Why 2021 and 2022 were the true abnormal years

• Where buyers are still aggressively competing

• Why pricing strategy matters more than ever in today’s market

Key Market Highlights

Selling Below Asking Price Is Historically Normal

For most years since 2012, the majority of homes across the country have sold below asking price. The unusual period was actually during 2021 and 2022, when buyers were aggressively bidding above list price on almost every property. Today’s market is behaving much closer to historical norms again.

Phoenix and Chandler Are Following Similar Market Patterns

In Phoenix, about 16.6% of homes are still selling above asking price, while Chandler sits around 14.3%. Although these numbers are much lower than the frenzy years, they are still very consistent with normal historical housing market behavior.

Buyers Are Still Competing in Affordable Price Ranges

Strong competition still exists in specific price points. In Phoenix, homes priced between $250,000 and $400,000 are seeing the strongest competition.

While in Chandler the hottest range is around $300,000 to $500,000. Affordability remains one of the biggest drivers of buyer demand today.

Today’s Market Is More Price Sensitive

Buyers are no longer blindly offering over asking price on every home. Monthly payment affordability, property condition, location, and pricing strategy all matter significantly more now compared to the pandemic housing frenzy years.

Homes Are Still Selling Above Asking—But More Rationally

In Phoenix, many lower-priced homes that sell above asking are only closing around $5,000 over list price. This is a major difference compared to the extreme bidding wars seen during 2021 and 2022, showing the market has become much more rational and balanced.

Chandler Has Become a Strategy Market

The Chandler market today is no longer driven by emotional frenzy. Pricing, neighborhood, condition, timing, and negotiation strategy now play a much larger role in determining whether a home sells quickly or sits on the market.

Buyer & Seller Insights

What Buyers Should Know

Many buyers hear the market has “slowed down” and expect every home to be negotiable. But that is not true across every price range or neighborhood.

Affordable, well-positioned homes in desirable Chandler neighborhoods are still attracting:

• Multiple offers

• Fast activity

• Competitive negotiations

This is especially true in the $300,000 to $500,000 range where affordability and demand continue to overlap.

What Sellers Should Know

Today’s market is no longer forgiving unrealistic pricing.

Homes that:

• Are overpriced

• Need work

• Or fail to match buyer expectations

can sit longer and require price reductions.

However, sellers with strong pricing strategies and proper positioning are still seeing excellent results—especially in competitive Chandler price ranges where inventory remains limited.