Below you will find the statistical breakdown and more for the Gilbert area Real Estate Market for October 2018.
Below is a snapshot of October’s Real Estate Market Statistics for Gilbert AZ:
The number of new listings in Gilbert for October was 459 down .9% from September. New contracts also decreased by 2.9% to 431. We saw 407 home sales completed in October down 3.6% from September. Median sales price was $324,000 down .3% from September. There were 654 active listing in Gilbert with the average days on market of 47. The average sold price to list price was 97.8% down by .1% from prior month.
Gilbert Homes for Sale by Bedrooms & Median price:
What does this mean if you are a seller?
For sellers, inventory levels increased by 6.1% while sales volume decreased by 3.6% from the prior month. We currently have 1.61 months of inventory available for Sale compared to last months 1.46. This still shows that Gilbert is in a strong seller’s market. If priced correctly, sellers can expect to sell in less than the average 47 days on market we saw in October. Buyers are not going to overpay, but houses priced correctly and in good condition will sell, often with multiple offers. For October, we saw the list to contract price of 97.8% down by .1% from September. We also saw the median price of $324,000 drop by .3% from September.
What does this mean if you are a buyer?
For buyers, a inventory of 1.61 months (compared to 1.46 months in September) still indicates we are in a strong sellers 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:
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: