Gilbert Area Market report for April 2017.
Below are all the Homes available in the city of Gilbert by Dollar amount and type:
Navigate this Market Report:
- March Statistics
- What does this Data Mean?
- Understanding the Data if you are a Seller/Buyer
- Market Statistics for Surrounding Cities
Below is a snapshot of March’s Real Estate Market Statistics for Gilbert:
For Gilbert, new listings in March 2017 were up from February 2017 by 19.4%. New contracts in March were up 18.1% as compared to February. Closed sales were up as well by 44.3 %. The median sold home price was $285,000, up by .8% as compared to February. The average number of days for a home to be on the market in Gilbert decreased to 65 days. The list to sold price increased to 97.6%
Gilbert Homes for Sale by Bedrooms and Median Price:
How should this Data be interpreted?
The number of new listings in Gilbert for March was 627, with 619 new contracts written. We saw 505 home sales completed in March. Median sales price was $285,000. There were 724 active listing in Chandler with the average days on market of 65. The average sold price to list price increased to 97.6%.
The median sale price stayed relatively flat for Gilbert, increased slightly from $282,750 in February to $285,000. The average days on market decreased from 69 days in February to 65 days in March. We saw the list to sale price increase from 97.1% to 97.6%. From February to March, new listings increased 19.4% and new contracts increased 18.1%, easily absorbing the new inventory.
What does this mean if you are selling your Home in Gilbert?
As a seller, we see that inventory levels are up from February but sales are up as well, buyer demand is up, easily absorbing in increase. For March, we saw average days on market decrease. If priced correctly, sellers can expect to sell in less than the average 65 days on market we saw in March. Buyers are not going to overpay, but houses priced correctly and in good condition will sell, often with multiple offers. For March, we saw the list to contract price was up from increase from 97.1% to 97.6%. Great news for sellers. We also saw the median price increase from $272,500 to $285,000.
What does this mean if you are buying a Home in Gilbert?
For buyers, this means there is a bit more inventory on the market to choose from, and those homes sold quickly. Buyers paid an average of 97.6% of the list price, up from 96.1% in March. The months of inventory decreased slightly from 2.09 months 1.4 months. Homes priced correctly relative to location and condition are selling very closer to the original list price. If you are serious about an offer, have your agent provide you comparable properties to determine the best price for the house. Asking for seller concessions and making a lowball offer is not a good strategy in a seller’s market. Available homes are selling quickly, so taking several days to decide to submit an offer may mean losing to another buyer making a quick decision. Remember, sellers also know the value of their home in this market. Their agents are keeping sellers updated on recent sales of homes similar to theirs as they come on the market.
Below are Homes that have come on the Market in the last 7 Days around the Median price range. Also below the pictures, you will see a link to additional homes in this price range:
Since we are focusing on the Market Statistics for East Valley locations, below you will see the links specifically for those cities: