Listing Prices in Gilbert, Arizona October 2015
Real estate market data for Gilbert, AZ provided by Nicole Doty of Zion Realty.
October brought about the first significant decrease in the Active Median List Price since last April. We had seen a few minor market adjustments throughout 2015 here in Gilbert, Arizona and it's not as if this current drop in prices is cause for too much alarm. The Active Median List Price for homes in October was $319,900 which is about a $6,000 drop from prices the previous month of September. New homes coming on to the market for sale and also Sold homes saw a small increase for October. The average price for a home entering the market for sale in October in Gilbert was $288,295 and the average Sold home closed at $268,000. However, all of these numbers are increases from year-over-year statistics from 2014.
So what do these numbers mean if you are a current homeowner in Gilbert or you wish to become one? The hot Summer real estate market has definitely slowed down. The wide gap between Active home list prices and Sold list prices show that buyers and sellers are not on the same page. Sellers are still reaching for the stars and attempting to get top dollar for their home and buyers are sticking to their guns when it comes to what they are willing to offer on a home. A property is only worth what someone is willing to pay. Homeowners can list their home for sale at whatever price they want but buyers still hold half the cards when it comes to affordability, what they can finance, and what they see as value in a home.
Regardless of the current prices in October, if you are a current homeowner, you have seen some steady equity built in to your property over the past year. Conversely, if you have been thinking of purchasing a property in Gilbert there are some price ranges that are once again seeing multiple offers placed on homes and buyers are snapping up the most affordable houses that hit the market each week. But armed with a little knowledge and a hard-working real estate agent from Zion Realty wrapping up that perfect home before another buyer gets to it should be a little less stressful!
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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