Here’s a look at the Gilbert Real Estate Market Report for September 2018. The number of new listings increased this month, but the number of houses sold took a slight downward turn. Let’s take a closer look at the stats for this area.
A Look at Housing Stats
At the end of August, there were a total of 501 homes sold in the Gilbert area. This number shows a 2 percent decrease from the 511 homes sold in August of 2017. We’re also seeing a decrease from the 539 sold last month. The majority of homes sold in August were in the $250,000 to $400,000 price range. The median sale price for homes in this area was $320,900. This amount shows an increase of 6.97 percent over the median sale price of $300,000 this time last year. The median sale price for last month was $332,000.
What Does This Data Mean?
We entered the month of September with a total of 684 homes listed without an offer pending. This number shows a decrease of 13.4 percent from the 790 homes listed without an offer this time last year. Last month, there were 703 active listings in Gilbert, which shows up a slope downward in active listings for this area. There are currently 354 pending listings on the market. This number is down 25.3 percent from the 474 recorded in August 2017. Last month, we saw a total of 310 pending listings.
What does this mean if you’re buying a house in Gilbert?
In August, there were 558 new listings added to the market. This number shows a 0.7 percent decrease from this time last year when we recorded 562 new listings. The number of new listings recorded last month was 524. 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 38 days. This is an improvement of 28.3 percent from the 53 days seen this time last year. In fact, the numbers keep improving. Last month, we recorded a 42 day average sale period. 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.