Gilbert Real Estate Market report for January 2017.
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Below are all the Homes available in the City of Gilbert by Dollar amount and type:
Navigate this Market Report:
- January Statistics
- What does this Data Mean?
- Understanding the Data if you are a Seller/Buyer
- Market Statistics for Surrounding Cities
Below is a snapshot of January’s Real Estate Market Statistics for Gilbert AZ:
As you can see from the chart, the median sold price for January 2017 in Gilbert was $285,000. A “median” price is the middle price of all sales.
Average days on market for houses in Gilbert for January 2017 is 68 days. This is the average number of days a house is on the market before being sold. We know that the higher the price of a property, it typically takes longer to sell. There are more buyers in the lower price ranges than higher price ranges, so more buyer demand means lower priced homes will sell faster.
Another key number to focus on is the list to sales price. In Gilbert for January 2017, the average list to sales price is 96.9%. This means that homes are selling at 96.9% of asking price. For buyers, this means that making a low ball offer on a home will probably not get you the home. For folks looking to sell a house in Gilbert, you can expect, on an average to get 96.9% of asking price, not necessarily 100%.
How should this Data be interpreted?
For the Gilbert market at the end of January, there were 2.11 months of inventory on the market. This means that if no more houses came on the market, it would take 2.11 months for all existing inventory to sell. Since we are well under 3 months of inventory, Gilbert is in a strong Seller’s market
What does this mean if you are selling a home in Gilbert?
As a seller, it means that inventory levels are down in the Gilbert area in favor of sellers, inventory is down and demand is up. If priced correctly, sellers can expect to sell in less than the average 68 days on the 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 January, we saw the list to contract price was 96.9%.
What does this mean if you are buying a home in Gilbert?
For buyers, there is a lot of competition for homes priced right relative to location & condition. If you really want the property, have your agent provide you with a list of comparable properties so you can determine the best price to offer so you can get it. Asking for concessions or low balling the price is not a good strategy in this a seller’s market. Remember, the agent has kept the seller abreast on recent home sales & like properties that have come on the market. Sellers will likely have multiple offers to choose from.
Below are Homes that have come on the Market in the last 7 Days around the Median price range in Gilbert AZ. Also below the pictures, you will see a link to additional homes in this price range:
Since we are focusing on the Market Statistics for East Valley locations, below you will see the links specifically for those cities:
View All Current & Past Phoenix & East Valley Real Estate Market Reports
