Gilbert AZ Real Estate Market Update - Housing Sales RISE in Gilbert Arizona
The Median List Price in Gilbert Arizona, for the week ending on May 18th, was $209,000. The average list price was $261,508. Of these two price points, the average price per square foot is $94.00, that is trending up, which means, prices are increasing!
With our market as fast paced as it is right now, don't let the "Days on the Market" fool you, by definition, Days on the Market (DOM) begin when the home is LISTED for sale, and ends when the Home Closes (IE, ownership has legally transferred from Seller to Buyer), that being said, the average Days on the Market for Gilbert Homes for Sale is 99 days. That is rending down, which means houses in Gilbert are not only selling quicker, they are closing quicker! A Typical Financed Escrow takes up to 45 days, but with Short Sale Listings on the Rise (If you're upside down, you should really call me, like right now, seriously, time is running out!) those additional 45-50 DOM, to successfully negotiate the terms and conditions to allow the Short Sale to close.
This is the truly shocking figure, the total inventory of listed properties, is 717, of those 717 Homes for Sale in Gilbert, 330 are without contracts, so in a city with a population of roughly 225,000 people (based on 2012 Census Results), with a city growth of 86% since 2000, which means more and more people are moving too, and purchasing homes in Gilbert AZ, the time is NOW to get moving into your first home, 2nd home, investment property or even to Short Sale your home and avoid the "Foreclosure" line on your Credit!
The average size of a Gilbert Home for Sale is 2,173 square feet. The average lots size is 2.5 to 5 Acres. Most of these homes have a minimum of 4 Bedrooms and two bathrooms. For those who believe this is a buyers market, hate to break the news to you, that trend is not only on its way down, its very srongly trending downwards! Thus the reason you need an aggressive Real Estate Agent, that knows how to get his clients into homes the first time around! Lets sit down and Discuss The Home Buying Process so you are 100% educated on Today's Market, its current trends, the different types of financing from low down payment programs to Jumbo Loans for those looking at homes over $464,000. Our prices have risen to those of 2009 over a 90 day average. And these prices will continue to climb, gradually over the next several years. Free Market Update for Gilbert Arizona.