Below you will find the statistical breakdown and more for the Gilbert area Real Estate Market for September 2018.
Below is a snapshot of September’s Real Estate Market Statistics for Gilbert AZ:
The number of new listings in Gilbert for September was 463 down 15.4% from August. But in addition, new contracts also decreased by 15.7% to 444. We saw 422 home sales completed in September down 15.4% from August. Median sales price was $325,000 up 1.9% from August. There were 616 active listing in Gilbert with the average days on market of 50. The average sold price to list price was 97.9% down by .6% 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 slightly (4.2%) while sales volume decreased by 15.4% from the prior month. We currently have 1.46 months of inventory compared to last months 1.18. This still shows a strong seller’s market. Also with the average days on market at 50, we have another sign that homes are still moving quickly. If priced correctly, sellers can expect to sell in less than the average 50. Buyers are not going to overpay, but houses priced correctly and in good condition will sell, often with multiple offers. For September, we saw the list to contract price of 97.9% down by .4% from August. Median price of $325,000 showed a slight increase of 1.9% from last month.
What does this mean if you are a buyer?
For buyers, a inventory of 1.46 months (compared to 1.18 months in August) still indicates we are in a strong sellers market. Sellers continue to have the advantage since there are fewer 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. You need to thoughtfully put together your offer making it as clean as possible. Asking for seller concessions or making a low ball offer is still not a good practice in this seller’s 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: