Here’s a look at the Gilbert Real Estate Market for June 2018. The median price range for homes shows a slight increase. Buyers seem more than ready to reach closing day, as we noticed the number of days a home is staying on the market continues to decrease. Let’s take a closer look at the stats for this area.
A Look at Housing Stats
At the end of May, there were a total of 594 homes sold in the Gilbert area. This number shows a 3.3 percent increase from the 575 homes sold in May of 2017 and a significant increase from the 471 in April. The majority of homes sold in May were in the $250,000 to $400,000 price range. The median sale price for homes in this area was $325,000. This amount shows an increase of 8.37 percent over the median sale price of $299,900 this time last year.
What Does this Data Mean?
We entered the month of June with a total of 692 homes listed without an offer pending. This number shows a decrease of 9.1 percent from the 838 homes listed without an offer this time last year. There are currently 370 pending listings on the market. This number is down 9.1 percent from the 546 recorded in May 2017. Homes sales may be down in Gilbert, but that doesn’t stop sellers from adding new life to the market inventory with fresh listings.
What does this mean if you’re buying a house in Gilbert?
In May, there were 656 new listings added to the market. This number shows a 3.6 percent decrease from this time last year. This increase in new listings is good news for home buyers in Gilbert. Thought the median price range did show a small increase, buyers are still in a wonderful position to purchase a home that meets their needs. One of the keys to success is to sign up for real estate listing updates via e-mail. You can create specific searches that center around the criteria that is important to you. Give us a call, and we’ll keep an eye out for properties you may want to see.
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 48 days. This is an improvement of 12.73 percent from the 55 days seen this time last year. For home sellers in Gilbert, this shorter stay on the market means you’re going to wrap things up and head towards closing day faster than you would have in 2017. Of course, you’ll want to capture the attention of buyers with an appealing asking price. In order to do this, you can enter some basic details to a 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.