Sales are down 28 percent in Chandler, Arizona, from last year, say local experts.

Average market time has increased to around 100 days, with a 7 month supply of homes on the market. Despite low interest rates it appears as though this once booming market may be adjusting.

These statistics indicate a buyers market at this time, with fewer sales being reported. The median home price for the first quarter of 2007 was $299,000.

But there is good news for sellers. The city of Chandler has seen it population bloom over the last 15 years -- and with a healthy helping of big business -- that should continue. Chandler is the home of many high tech companies like Intel, Motorola, Microchip and Honeywell.

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Published: July 17, 2007

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