Below you will find the statistical breakdown and more for the Gilbert area Real Estate Market for April 2018.
Snapshot of Gilbert’s Real Estate Market Statistics for April 2018.
The number of new listings in Gilbert for April was 597 up 3.5% from March. New contracts also increased by 6.0% to 636. We saw 470 home sales completed in April down 7.8% from last month. Median sales price was $319,500 up 2.7% from March. There were 493 active listing in Gilbert with the average days on market of 54. The average sold price to list price was 98.3% 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 went down by 3.5% while sales volume decreased by 7.8% from the prior month. For April, we had an average number of days on market of 54, up 2 days from the prior month. We currently have 1.05 months of inventory available for Sale which continues the very strong sellers market in the area. If priced correctly, sellers can expect to sell in less than the average 54 days on market we saw in March. Buyers are not going to overpay, but houses priced correctly and in good condition will sell, often with multiple offers. For April, we saw the list to contract price of 98.3% flat to March. We also saw the median price increase by 2.7% to $319,500.
What does this mean if you are a buyer?
For buyers, a inventory of 1.05 months (compared to 1.00 months in March) continues to show an extremely strong sellers market. Sellers continue to have a great 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. 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 still 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: