Below you will find the statistical breakdown and more for the Gilbert area Real Estate Market for December 2018.
Below is a snapshot of December’s Real Estate Market Statistics for Gilbert AZ:
The number of new listings in Gilbert for December 2018 was 291 down 29.7% from November. New contracts also decreased by 20.9% to 296. We saw 351 home sales completed in December up .6% from November. The median sales price was $334,000 up 3.7% from November. There were 638 active listing in Gilbert with the average days on market of 51. The average sold price to list price was 97.3% down by .5% from prior month.
Gilbert Homes for Sale by Bedrooms & Median price:
What does this mean if you are a seller?
Inventory levels dropped slightly (3.9%)s while sales volume remained flat to prior month. We currently have 1.82 months of inventory available for Sale which is a decrease of 4.2% from November. This shows a continued seller’s market (last month’s 1.90 months of inventory). If priced correctly, sellers can expect to sell in less than the average 51 days on the market we saw in December. Buyers are not going to overpay, but houses priced correctly and in good condition will sell, often with multiple offers. For December, we saw the list to contract price of 97.3% down by .5% from November. We also saw the median price of $334,000 increase by 1.3% from November.
What does this mean if you are a buyer?
For buyers, an inventory of 1.82 months (compared to 1.90 months in November) continues to show a seller’s market. Sellers continue to have the 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 AZ:
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: