November Market Report for Gilbert
In the month of November, Gilbert saw the average price of a home hold steady with a slight increase from $290,558 in October to $293,045 in November. The average price per square foot also held steady at $135/ sq ft. Gilbert also saw another dip in the number of houses sold to 305, thus showing Winter is here.
Average Price Sold | Average Sq Ft | Average Price/Sq Ft | ||
October 2015 | $290,558 | 2181 Sq Ft | $135/ Sq Ft | |
November 2015 | $293,045 | 2183 Sq Ft | $135/ Sq Ft |
What does this mean? For buyers looking in Gilbert, prices have reached their winter plateau. Many buyers can still swoop up good deals on houses that sellers may be eager to get off their hands. Buyers should also know that with new lender guidelines set forth by the CFFB (Consumer Financial Protection Bureau) in October, the amount of time to close a loan may increase. Click HERE for more infor about TRID ( Truth in Lending, RESPA, Integrated, Disclosures). Sellers in Gilbert, on the other hand, can definitely take advantage of the lower inventory by pricing your home appropriately rather than shooting for the stars. With the right marketing strategy and correct real estate knowledge, sellers can take major advantage of the lower inventory!
Mark Wagner at markwagner.zionrealty@gmail.com.
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