Gilbert AZ Real Estate September 2014 Market Update and Statistics

Median Sold Price (Single Family Homes) in Gilbert (by zipcode)
September 2013 – September 2014

Gilbert Real Estate September 2014 Market Highlight:

• Active Listing (Inventory) has Increased 27.2% from September 2013
• Number of Homes sold has Decreased 1.0% from August 2014
• Median Sold Price has Decreased 2.7% from August 2014
• Average Sold Price has Decreased 4.4% from August 2014
• 80% of Single Family Homes sold are Traditional Sale
• Most Expensive House Sold in Gilbert September 2014, sold at $850,000 in Ranchitos Verde click here to view
• Observation: Leading towards Buyer Market
  • Buyer has more negotiation power to buy
  • Seller has to price competitively to sell

September 2014 Update & Statistics

* Active Listing as 10/2/14
** Price/SQFT as 10/14/14
source armls. Information is deemed to be reliable, but is not guaranteed

Here are Gilbert AZ Real Estate – Single Family Detached Home statistics for September 2014. Be sure to Contact Us, if you have any questions about this report or about how the market is performing. This report includes MLS data for the past 12 months for Gilbert AZ provided by the FlexMLS system.

Closed Sales Report Analysis:
Sellers:
The month of September 2014 we saw a 1.0% decrease in the number of closed sales compared to the prior month. The statistics show that we had 394 residential Single Family Detached Homes sold in September in Gilbert AZ compared to 398 in August. This compares to 337 closed sales in September of last year. In today’s market sellers need to continue to be diligent in pricing and staging their homes, as we are no longer in a seller’s market. We are now more on Buyer’s Market.

Buyers:
In our shifted market, buyers are continuing to buy – Buyers want to take advantage of this amazing market due to low interest rates, increased inventory, and more traditional sales from which to choose. The Buyer’s Market that we are in now means Buyer has more negotiation in price and Seller’s concession.

Average Sold Price Analysis:
Sellers:
September Average Sold Price decrease from $295,322 to $282,287. This is a 4.4% decrease from previous month. This is because there was $850,000 home closed in September compare to 1,350,000 in August that decrease the average price. It is very important for sellers to pay attention to this change and monitor this statistic to ensure that they remain competitive in the market.

Buyers:
This statistic is an indicator that buyers still continue to pay little bit more for homes than they have in the past 12 months. Educated and savvy buyers understand that a competitive market gives them fewer options for home choices – even when inventory increases. Although this may vary from zipcode to zipcode and from price range to price range, buyers need to make sure they are fully informed regarding the specific market in which they have an interest. This will give them the best chance of being competitive when making an offer.

As a reminder, you need to meet with a real estate professional to see how statistics impact the area where you are considering selling or buying. Blended statistics will not be as accurate as a more detailed report that your real estate professional can provide to help you with your decision making.

Would you like to know what is happening in your neighborhood?
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Selling your home in Gilbert AZ
Contact Us or call Swee Ng at 480.721.6253 today to discuss your potential Gilbert AZ Home Value and our comprehensive marketing plan. We will prepare complimentary competitive market analysis (CMA) to find out what your home is worth at today’s market.

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If you are looking to buy or sell your home in Gilbert AZ, we hope you will consider us. Contact Us today for complimentary and no obligation consultation.