I was updating my Phoenix-area market conditions report on Realty Times the other day and I realized that they would make good blog material: after all, our motto is Knowledge is Power, and what better way to stay knowledgeable and powerful than to stay informed about market conditions?

Today, I'll post market conditions reports for some of the East Valley cities; tomorrow we'll look to the Scottsdale and North Phoenix areas as well as Phoenix proper. If you like reading about the market conditions in specific areas of the Valley, let me know and we'll make it a regular monthly feature.

Tempe

City Characteristics

The City of Tempe is the state's seventh largest city, located in the center of the Valley of the Sun. Arizona State University (ASU), with its main campus in Tempe, is the fourth-largest public university in the nation. ASU continues to play an important role in contributing to Tempe's considerable educational and cultural resources.

Downtown Tempe along Mill Avenue has become an area entertainment center boasting live music, restaurants, boutiques, cafes, theater and film - as well as a number of high-end high-rise condominium projects. Tempe boasts one of the best job markets in the state, home to US Airways, Chase, the University of Phoenix, and ASU - among others.

Market Conditions

The median sales price for single-family homes in Tempe decreased from $264,250 in December to $253,545 in January. Median sales prices for townhouses and condominiums also decreased, from $201,000 to $167,000.

Mesa

City Characteristics

Mesa has a neighborhood for everybody. From ASU student neighborhoods in the West to retirement communities and luxury lakefront developments in the East, Mesa offers a wide range of housing options to accommodate every lifestyle.

Events, activities, dining and shopping keep residents of Mesa and its surrounding communities busy all year long. Some of Mesa's key attractions are:

• Arizona Museum for Youth
• Arizona Museum of Natural History
• Commemorative Air Force Aircraft Museum
• Dobson Ranch Golf Course
• Hohokam Stadium - Spring Training with Chicago Cubs
• Mesa Arts Center
• Mesa Historical Museum
• Riverview Golf Course

Market Conditions

The median sales price for single-family homes in Mesa fell slightly from $212,000 in December to $209,880 in January. The median sales price for townhouses and condominiums fell from $165,000 in 2007 to $145,000 in January.

Chandler

City Characteristics

Chandler is a fast-growing community with excellent job opportunities, family-centered neighborhoods, and excellent schools for the kids - from pre-K through college.

Named the "Safest Place to Live in Arizona" among cities with a population greater than 75,000, Chandler boasts award-winning communities for everyone - from young families to retirees, and all those in between.

Once a small community of citrus farmers, Chandler has grown to become the "High Tech Oasis in the Silicon Desert." Intel is Chandler's largest employer, though hi-tech companies Microchip Technology, Freescale Semiconductor, Orbital Sciences, and others offer excellent employment opportunities as well.

Market Conditions

Chandler's median single-family home sales price was $256,750 in January 2008 - down from $260,000 in December. The median sales price of townhouses and condominiums fell to $130,000 in January.

Gilbert

City Characteristics

Gilbert is one of the fastest growing cities in the country, though it's insulated from the hustle-and-bustle of Phoenix. A quiet suburban enclave, Gilbert is the perfect place to raise a growing family. Yet it's not so far that a quick hop on the Loop 202 will get you to museums, sports stadiums, and downtown Phoenix in less than 30 minutes.

The city is based on a village concept, with planned communities that include parks, equestrian trails, fishing, boating, shopping, dining, and schools all within walking distance. However you define your lifestyle, Gilbert has something for you!

Market Conditions

The median sales price for single-family homes was $283,775 in January - down from $319,000 in 2007. The median sales price for townhouses and condominiums decreased from $195,750 in 2007 to $174,500 in January of this year.

If you're in the market for a home or townhouse/condo in the East Valley, now is the time to buy! All signs point to the fact that we're hitting the bottom of the market downturn. Lock in a great deal on your dream home before prices start climbing again. For the best deal with the least hassle, sign up for your FREE Time Saving Home Finder Program at www.MyPhoenixMLS.com.

If you're looking to sell your East Valley home, an experienced realtor with a strong track record selling in slower markets can help you get the best possible deal. It is possible to sell your house now. I've been selling homes in Phoenix through up markets and down markets, and I sold more homes in December, 2007 than ever before. It can be done. Call me today at 602-318-1114 or visit www.MyPhoenixMLS.com.