Below you will find the statistical breakdown and more for the Gilbert area Real Estate Market for January 2018.
Snapshot of Gilbert’s Real Estate Market Statistics for January 2018.
The number of new listings in Gilbert for January was 480 up 80.5 % from December. But in addition, new contracts also increased b 54.9% to 519. We saw 323 home sales completed in January down 22.2% from December 2017. Median sales price was $303,100 up 1.1% from December. There were 512 active listing in Gilbert with the average days on market of 61. The average sold price to list price was 97.5% up .1% from prior month.
Gilbert Homes for Sale by Bedrooms & Median price:
What does this mean if you are a seller?
For sellers, understand that inventory levels continued their downward slide while sales volume decreased by 22.2% from the prior month. For January, we had an average number of days on market of 61, up from the 60 days we saw last month. In January, we currently have 1.59 months of inventory available for Sale continuing the strong seller’s market. If priced correctly, sellers can expect to sell in less than the average 61 days on market we saw in January. Buyers are not going to overpay, but houses priced correctly and in good condition will sell, often with multiple offers. For January, we saw the list to contract price of 97.5% was up .1% to December’s. We also saw the median price rise slightly ($303,100) but still lagging behind November’s $310,250.
What does this mean if you are a buyer?
For buyers, a inventory of 1.59 months (compared to 1.36 months in December) indicates that the 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. Homes priced correctly relative to location and condition are selling closer to the original list price and selling quickly. 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 a seller’s market. Remember, sellers also know the value of their home in this market. Their agents are keeping sellers updated on recent sales on homes similar to theirs as they come on the market.
Homes For Sale in Gilbert Arizona
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 for all the Homes in Gilbert by price and Type:
Below are all the Homes available in the city of Gilbert by Dollar amount and type: