Gilbert Real Estate Market for January 2019.
January’s Real Estate Market Statistics for Gilbert AZ:
The number of new listings in Gilbert for January was 541 up 85.9% from December 2018. But in addition, new contracts also increased by 65.2% to 489. We saw 270 home sales completed in January down 23.1% from December. The median sales price was $325,000 down 2.7% from December. There were 675 active listing in Gilbert with the average days on market of 54. The average sold price to list price was 97.4% up by .1% from the prior month.
Gilbert Homes for Sale by Bedrooms & Median price:
What does this mean if you are a seller?
For sellers, understanding that inventory levels in January normally increase. This January was no different. We were up 85.9% vs December. Also, closed sales decreased by 23.1%. This caused the current months of inventory available for Sale to increase by 37.4% to 2.50. This shows Gilbert still in a seller’s market. If priced correctly, sellers can expect to sell in less than the average 54 days on the market we saw in December. Buyers are not going to overpay, but houses priced correctly and in good condition will sell, often with multiple offers. For January, we saw the list to contract price of 97.4% up by .1% from December. We also saw the median price drop to $325,000 a 2.7% decrease from December.
What does this mean if you are a buyer?
For buyers, an inventory of 2.50 months (compared to 1.82 months in December) shows that we may be finally moving closer to a balanced market. Currently, 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 with comparable properties to determine the best price for the house. We need to continue to watch the trend as the year progresses. Many forecasts show that we will be in a balanced market within the next few months.
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: