Here is the Real Estate Market Report for Gilbert, Arizona for January 2019.
Gilbert, Arizona is one of the fastest growing communities in the Phoenix metropolitan area. Its estimated population in 2017 was 242,354.
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Lets take a look at the Real Estate Market for January 2019.
In Gilbert, AZ for the month ending December 2018, 354 listings were sold for an average price of $360,458. The total number of active listings is down 15.1% from December 2017.
303 new listings came on the market in Gilbert, AZ for the month ending December 2018, bringing the total number of active listings in the area to 715, up 3.3% from December 2017.
Average list price of homes on the market is $452,172, up 0.15% from the previous year.
The average sale price of homes increased11.07% from $324,518 for December 2017 to $360,458 for December 2018.
Sellers in the Gilbert, AZ area are averaging a 97% sell price versus the list price for their home. The average number of days on market is around 50 days, which is a decrease from 60 days on market in December 2017.
The majority of properties in the Gilbert, AZ area that have sold are in the $300,000 to $400,000 price range. Strongest demand for homes is in the 250-$400,000 price range with approximately 239 of the 354 homes sold in the Gilbert AZ area in that price point. A total of 167 properties went under contract in that price range for the month ending December 2018.
303 new listings have come to market in Gilbert, AZ, the average list price of new properties for December 2018 is $452,172.
What does this mean if you’re selling a house in Gilbert?
Gilbert, AZ is currently a seller’s market with heavy competition in the $250-400,000 price range. Homeowners considering selling should have their home priced competitively and use our free instant home value estimate, or call 480-529-8692.
What does this mean if you’re buying a house in Gilbert?
Buyers can anticipate tightening inventory as sold listings outpaced new listings for the month ending December 2018. We recommend buyers obtain lender pre-approval and create instant alert notification to make sure you are notified of new properties becoming available in your price range.