Gilbert Real Estate Market Report May 2017.
Below are all the Homes available in the city of Gilbert by Dollar amount and type:
- Navigate this Market Report
- How should this Data be interpreted?
- What does this mean if you are selling a Home in Gilbert?
- What does this mean if you are buying a Home in Gilbert?
- Since we are focusing on the Market Statistics for East Valley locations, below you will see the links specifically for those cities:
Below is a snapshot of Gilbert’s Real Estate Market Statistics for April 2017;
The number of new listings in Gilbert for April was 569, with 625 new contracts written. We saw 485 home sales completed in April. Median sales price was $287,000. There were 681 active listings in Gilbert with the average days on market of 58. The average sold price to list price remained flat at 97.4%.
Gilbert Homes for Sale by Bedrooms and Median Price:
How should this Data be interpreted?
The median sale price stayed relatively flat for Gilbert, increasing slightly from $285,000 in March to $287,000 in April. The average days on market decreased from 65 days in March to 58 days in April. We saw the list to sale price flat at 97.4%. From March to April, new listings decreased 9.3% and new contracts increased 1.0%, easily absorbing the existing inventory.
What does this mean if you are selling a Home in Gilbert?
As a seller, we see that new listings for April were down 9.3% from April. While levels are down from March, sales are up by 1.0%. This tells us inventory is down and demand is up. For April, we saw average days on market decrease from 62 to 58 days, meaning homes are selling faster in April than even in March. If priced correctly, sellers can expect to sell in less than the average 58 days on market we saw in April. Buyers are not going to overpay, but houses priced correctly and in good condition will sell, often with multiple offers. For April, we saw the list to contract price was flat at 97.4%. This is great news for sellers. We also saw the median price increase slightly from $285,000 to $287,000
What does this mean if you are buying a Home in Gilbert?
For buyers, this means there is less inventory on the market to choose from, and those homes are selling quickly. Buyers paid an average of 97.4% of the list price, up from April. The months of inventory is flat at 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 low ball 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 quicker 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: