Number of Listings in Gilbert, Arizona October 2015
Real estate market data for Gilbert, AZ provided by Nicole Doty of Zion Realty.
The Gilbert, Arizona housing market is entering it's standard Fall and Winter slow down. Housing numbers in October showed a spike in houses listed for sale and a drop in closed transactions. There were 1,180 homes actively listed for sale in October which is almost 100 more than September but down more than 200 from October of 2014. There were 574 new homes listed in Gilbert for sale in October which is 41 more than September, however, there were only 355 homes that sold in that same period as compared to the 370 homes that sold in October of 2014.
What do all these numbers mean for buyers and sellers? Any time you see a spike in available inventory and at the same time an exodus of buyers from the market, you will eventually start to see home values and prices come down. The Fall and Winter typically turn in to buyers markets and sellers will need to price their homes well in order to attract the few potential home shoppers who are still looking to purchase. Gilbert, Arizona is still seeing a healthy level of available homes for sale and, for the time being, we do not have to worry about too many homes saturating the market puting downward pressure on pricing. However, if the amount of homes for sale continues to increase over the next few months, while more and more buyers leave the market then we will start to see some major price drops. Fall festivals and school activities in Gilbert can heavily distract both buyers and sellers this time of year. Once the initial wave of Fall schedule changes occur we will typically see another small spike in real estate activity on both the buyer and seller side.
According to the numbers most of the home buying and selling in Gilbert in October was for housing in the $200,000 to $300,000 price range. It's becoming increasingly more difficult to find properties below the $200,000 mark in Gilbert but armed with a little knowledge and a hard-working real estate agent from Zion Realty selling your home, or snapping up that perfect property before another buyer gets to it should be a little less stressful. Contact us today!
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.