Below you will find the statistical breakdown and more for the Gilbert area Real Estate Market for December 2017.
Snapshot of Gilbert’s Real Estate Market Statistics for December 2017
The number of new listings in Gilbert for December was 266 with 335 new contracts generated. We saw 415 home sales completed in December of 2017 up 5.9% from November. Median sales price was $299,900 down 3.3% from November. There were 563 active listing in Gilbert with the average days on market of 60. The average sold price to list price was 97.4% flat to the 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 were down significantly in December while sales volume increased 5.9% to prior month. We had an average number of days on market of 60, up from the 53 days we saw last month. In December, we currently have 1.36 months of inventory available for Sale a strong seller’s market. If priced correctly, sellers can expect to sell in less than the average 60 days on 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 December, we saw the list to contract price of 97.4% was flat to November’s. We also saw the median price decrease from $310,250 to 299,900.
What does this mean if you are a buyer?
For buyers, a inventory of 1.36 months (compared to 1.65 months in November) indicates that the sellers continue to have a 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. Homes priced correctly relative to location and condition are selling closer to the original list price and selling quickly. 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 a 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 Arizona
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 showing all the homes in Gilbert by price and type:
Below are all the Homes available in the city of Gilbert by Dollar amount and type: