Below you will find the statistical breakdown and more for the Phoenix area Real Estate Market for Month YR.
Below is a snapshot of November’s Real Estate Market Statistics for Gilbert AZ:
The number of new listings in Gilbert for November was 414 down 9.8% from October. New contracts also decreased by 13.2% to 374. We saw 349 home sales completed in November down 14.3% from October. Median sales price was $322,000 down .6% from October. There were 664 active listing in Gilbert with the average days on market of 50. The average sold price to list price was 97.8% flat to last month.
Gilbert Homes for Sale by Bedrooms & Median price:
What does this mean if you are a seller?
For sellers, inventory levels continued to increase for the fourth month in a row. We currently have 1.90 months of inventory available for Sale which is an increase of 18% from October (1.61 months of inventory). We continue to be in a sellers market. If priced correctly, sellers can expect to sell in less than the average 50 days on market we saw in November. Buyers are not going to overpay, but houses priced correctly and in good condition will sell, often with multiple offers. For November, we saw the list to contract price of 97.8% flat to prior month. We also saw the median price drop to $322,000 a .6% decrease from October.
What does this mean if you are a buyer?
For buyers, a inventory of 1.90 months (compared to 1.61 months in October) still indicates we are in a sellers market. Sellers continue to have a advantage since there are less homes available. Anything under 3 months of inventory is considered a seller’s market. So those homes that are priced right may get multiple offers. The buyer has to remain diligent about their offers. 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 or making a low ball offer is not a good strategy in this seller’s market. Remember, sellers also know the value of their home in this market. Their agents are keeping sellers updated on recent sales and homes similar to theirs as they come on the market.
Homes For Sale in Gilbert:
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 Chart of all the Gilbert homes by price and Type:
Below are all the Homes available in the city of Gilbert by Dollar amount and type: