Listing Prices in Gilbert, Arizona July 2015
Real estate market data for Gilbert, AZ provided by Nicole Doty of Zion Realty.
July saw declines across the board in Sold, Active and New listing prices here in Gilbert, Arizona. The busy Summer housing market appears to be coming to an early end this year. Back in June 2015 we still were seeing modest increases in Active and New listing prices but the average Sold price had flat lined. However, everything took a step back in July. The average home in Gilbert was Active for sale at $320,000 which is a $5,000 decrease from June. The average Sold home in July closed at $260,000 which is a $10,000 decrease from the previous month, and the median price of newly listed homes was $279,000 which is $11,000 below June's numbers.
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 begun it's annual cool off with Sold, Active, and Newly listed home prices dropping to near March 2015 levels. 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 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. If this decrease in prices across the board continues through August you can bet you'll be able to point back to July as the month the Gilbert real estate market went from a sellers market to a buyers market.
Inspite of the falling home prices in July, 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.