Absorption Rate in Gilbert, Arizona March 2015
Real estate market data for Gilbert, AZ provided by Nicole Doty of Zion Realty.
What is the Absorption Rate when it comes to real estate? The Absorption Rate chart shows how long the current inventory of properties would last at the current rate of sales. If no new properties were added to the market, and sales continued at a steady pace, the Absorption rate indicates the number of months required to sell all the properties on the market. In a healthy real estate market this number should hover around a 3-Month average. As you can see the Gilbert, Arizona real estate market has been just below that mark since last December meaning total inventory has been slightly lower than the market can handle.
However, the busy Spring and Summer real estate market is upon us! Inventory levels have seen an even greater decrease since this chart was updated in April 2015. The Gilbert market is seeing a high level of competition in the first time home buyer market. Homes in that price range are being bought up the quickest and some are receiving multiple offers within the first week of being listed for sale. Historical data shows that during Spring and Summer homes will usually sell the quickest out of any other time of the year. But armed with a little knowledge and a hard-working real estate agent from Zion Realty snapping up that perfect home before another buyer gets to it should be a little less stressful! But if you're in the market to sell your home, now is a great time as there is currently less competition and more buyers vying for your property!
Find Homes for Sale in Gilbert AZ
If you need more information on homes for sale in Arizona or to find out what your current home is worth contact us through our website at ZionRealtyAZ.com.
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