This week the median list price for Gilbert, AZ is $660,000 with the market action index hovering around 38. This is less than last month's market action index of 40. Inventory has increased to 633.
The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
The market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.
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