Here’s a look at the Gilbert Real Estate Market Report for October 2018. The real estate market seems to be slowing down a bit as we move into the last quarter of the year. Let’s take a closer look at the stats for this area.
A Look at Housing Stats
At the end of September, there were a total of 420 homes sold in the Gilbert area. This number shows a 9.5 percent decrease from the 464 homes sold in September of 2017. We’re also seeing a decrease from the 501 sold last month. The majority of homes sold in September 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 5.61 percent over the median sale price of $307,750 this time last year. The median sale price for last month was $320,900.
What Does This Data Mean?
We entered the month of October with a total of 710 homes listed without an offer pending. This number shows a decrease of 8.7 percent from the 778 homes listed without an offer this time last year. Last month, there were 684 active listings in Gilbert. There are currently 280 pending listings on the market. This number is down 37.5 percent from the 448 recorded in September 2017. Last month, we saw a total of 354 pending listings.
What does this mean if you’re buying a house in Gilbert?
In September, there were 475 new listings added to the market. This number shows a 5.6 percent decrease from this time last year when we recorded 503 new listings. The number of new listings recorded last month was 558. As a home buyer in Gilbert, wouldn’t it be helpful to get a notification when a new home hit the market? You can!
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 49 days. This is an improvement of 3.92 percent from the 51 days seen this time last year. Home sellers in the Gilbert area should take note of the current demand for houses when considering whether to list their property. Of course, it’s important to know how much your home is worth in today’s market so that you can price your home correctly.
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.