Below you will find the statistical breakdown and more for the Gilbert area Real Estate Market for August 2018.
Below is a snapshot of August’s Real Estate Market Statistics for Gilbert AZ:
The number of new listings in Gilbert for August was 547 up 8.5% from July. But in addition, new contracts also increased by 2.5% to 527. We saw 499 home sales completed in August down 7.1% from July. Median sales price was $319,000 down 3.9% from July. There were 591active listing in Gilbert with the average days on market of 39. The average sold price to list price was 98.5% 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 4.6% to 591 while sales volume decreased by 7.1% from the prior month. For August, we had an average number of days on market of 39, down 4 days from the prior month. We currently have 1.18 months of inventory available for Sale which is an increase of 12.4% from July. We are still in a strong sellers market since we still have slightley more than one months inventory and days on market at historic lows. If priced correctly, sellers can expect to sell in less than the average 39 days on market we saw in August. Buyers are not going to overpay, but houses priced correctly and in good condition will sell, often with multiple offers. For August, we saw the list to contract price of 98.5% down by .1% from July. We also saw the median price drop to $319,000 a 3.9% decrease from July.
What does this mean if you are a buyer?
For buyers, a inventory of 1.18 months (compared to 1.05 months in July) still shows a strong Sellers market. Sellers continue to have an advantage since there are barely one months inventory of 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 and 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: