Here’s a look at the Gilbert Real Estate Market Report for July 2018. We saw a slight increase in the median price range again this month. Closing day continues to arrive in a timely manner for sellers in Gilbert. Let’s take a closer look at the stats for this area.
A Look at Housing Stats
At the end of June, there were a total of 581 homes sold in the Gilbert area. This number shows a 0.7 percent decrease from the 585 homes sold in June of 2017 and a slight decrease from the 594 in May. The majority of homes sold in June were in the $250,000 to $400,000 price range. The median sale price for homes in this area was $330,000. This amount shows an increase of 8.20 percent over the median sale price of $305,000 this time last year.
What Does this Data Mean?
We entered the month of July with a total of 745 homes listed without an offer pending. This number shows a decrease of 7.5 percent from the 860 homes listed without an offer this time last year. There are currently 326 pending listings on the market. This number is down 32.6 percent from the 484 recorded in June 2017.
What does this mean if you’re buying a house in Gilbert?
In June, there were 615 new listings added to the market. This number shows a 2.6 percent decrease from this time last year. In addition, we’re seeing a slight decrease in listings when compared to the 656 new listings from last month. The current inventory leaves little room for delay when it comes to decision making on purchasing a new home. Give yourself the edge by signing up for real estate listing updates via e-mail. The best thing about setting up searches if you get to pinpoint the criteria that match your needs. This process saves you time when it comes to sorting out homes that don’t make sense for your wish list.
What does this mean if you’re selling a house in Gilbert?
The average length of time a home is staying on the market is around 44 days. This is an improvement of 18.52 percent from the 54 days seen this time last year. For home sellers in Gilbert, the number of days a home stays on the market continues to shrink. This is good news for those sellers who are setting the correct asking price for their property from the beginning. Use the home valuation calculator and get back a general idea of what your home is worth. Afterward, give us a call to receive a comprehensive report. A comprehensive report takes things into account like recent upgrades, neighborhood sales, and current market trends.