Below you will find the statistical breakdown and more for the Gilbert area Real Estate Market for May 2018.
Below is a snapshot of May’s Real Estate Market Statistics for Gilbert AZ
The number of new listings in Gilbert for May was 649 up 8.7% from April. New contracts also increased by 4.6% to 665. We saw 596 home sales completed in May up 26.8% from April. Median sales price was $325,000 down 1.7% from March. There were 510 active listing in Gilbert with the average days on market of 48. The average sold price to list price was 98.6% up by .3% from prior month.
Gilbert Homes for Sale by Bedrooms & Median price:
What does this mean if you are a seller?
For sellers, inventory levels went up by 3.4% while sales volume increased by 26.8% from the prior month. We currently have .86 months of inventory available for Sale which is an decrease of 18% from April. This is a extremely strong sellers market a weaker seller’s market. If priced correctly, sellers can expect to sell in less than the average 48 days on market we saw in May. Buyers are not going to overpay, but houses priced correctly and in good condition will sell, often with multiple offers. For May, we saw the list to contract price of 96.6% up by .3% from April. We also saw the median price increase by 1.7% to $325,000.
What does this mean if you are a buyer?
For buyers, a inventory of .86 months (compared to 1.05 months in April) is not welcome news since this indicates we are moving to an even stronger sellers market. Sellers continue to have a distinct advantage since there are very few 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: