Gilbert Real Estate Market report March 2017.
Here is the place to view the Gilbert Real Estate Market Report March 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:
- February 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 February’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 $282,750. A “median” price is the middle price of all sales.
Average days on market for houses in Gilbert for January 2017 is 69 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 97.1%. This means that homes are selling at 97.1% 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 97.1% of asking price, not necessarily 100%.
Gilbert Homes for Sale by Bedrooms and Median Price:
How should this Data be interpreted?
The median sales price stayed relatively flat for Gilbert, dropping slightly from $285,000 to $282.750, only a .8% drop. The average days on market was flat with January at 69 days, and we saw the sale to list price increase from 96.9% to 97.1%.
What does this mean if you are selling a home in Gilbert?
For sellers, we see that inventory levels are up slightly from January, and sales are up. For February, we saw average days on the market at 69 days, which is flat with January’s 68 days. If priced correctly, sellers can expect to sell in less than the average 69 days on the market we saw in February. 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 was up from 96.9% to 97.1%. Great news for sellers. We also saw the median price decrease slightly from $285,000 to $272,500, only .8%.
What does this mean if you are buying a home in Gilbert?
For buyers, this means there is a bit more inventory on the market to choose from, and those homes sold. Buyers paid an average of 97.1% of the list price, up from 96.9% in January. The median price in Gilbert decreased slightly by .8%. The months of inventory decreased slightly from 2.11 months to 2.09 months. Homes priced correctly relative to location and condition are selling closer to the original list price. 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 lowball 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 of homes similar to theirs as they come on the market.
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
