Absorption Rate in Gilbert, Arizona July 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 December 2014 meaning total inventory has been slightly lower than the market can handle.
The busy Spring and Summer real estate market is winding down now. The kids are back to school, the Fall sports seasons are gearing up, and a reprieve from triple digit temperatures is right around the corner. Many buyers that had been interested in purchasing homes get distracted by all the Fall and Winter activities and home buying takes a backseat in priority. I do predict that the currently level of available homes on the market will continue to decrease slightly over the next few months. The Gilbert. Arizona market is still 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. 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! However, if you're in the market to sell your home, now is a great time as there will be less competition going in to the Fall and Winter months.
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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