Below you will find the statistical breakdown and more for the Gilbert area Real Estate Market for February 2018 .
Snapshot of Gilbert’s Real Estate Market Statistics for February 2018.
The number of new listings in Gilbert for February was 484 up .8% from January. New contracts also increased by 2.1% to 530. We saw 365 home sales completed in February up 13.0% from January. Median sales price was $315,000 up 3.9% from January. There were 499 active listing in Gilbert with the average days on market of 57. The average sold price to list price was 97.6% up by .1% from prior month.
Gilbert Homes for Sale by Bedrooms & Median price:
What does this mean if you are a seller?
For sellers, understand that inventory levels remained flat while sales volume increased by 13.0% from the prior month. For February, we had an average number of days on market of 57, down 4 days from the prior month. We currently have 1.37 months of inventory available for Sale which is an increase of 5.3% from January. This remains a strong seller’s market. If priced correctly, sellers can expect to sell in less than the average 57 days on market we saw in January. Buyers are not going to overpay, but houses priced correctly and in good condition will sell, often with multiple offers. For February, we saw the list to contract price of 97.6% up by .3% from January. We also saw the median price rise to $315,000 a 3.9% increase from January.
What does this mean if you are a buyer?
For buyers, a inventory of 1.37 months (compared to 1.30 months in January) is no welcome relief. Sellers continue to have a big advantage since there are still only a small amount of inventory 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 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: