In a somewhat surprising turn of events the amount of time it was taking to sell a home in Gilbert saw a slight decrease in the month of October after two straight months of increases. Just when it seemed as if the Gilbert, Arizona real estate market was settling in to it's annual Fall and Winter slumber October gave home owners a pleasant reprieve from dwindling numbers. Homes in Gilbert, Arizona took an average of 61 days to sell in October. This number is still significantly better than October of 2014 when it was taking an average of 92 days to sell a home in Gilbert. There are still some homes in price ranges around $200,000 which are selling almost as fast as they are being placed up for sale, and yet some other homes in higher price ranges are taking longer than the average to sell.
The busy Summer real estate market has ended here in Gilbert. Homes for sale in Gilbert started off the year 2015 taking 94.8 days on average before finding a buyer so we have definitely seen a vast improvement in this figure to date. The most competitive price range in Gilbert, Arizona currently is that of the first time home buyer between $200,000 and $250,000. Homes in that price range are being bought up the quickest and some are receiving multiple offers within the first few weeks of being listed for sale.
As we get further entrenched in to Fall and Winter, historically it will begin taking longer to sell a property as there are less buyers during that time of year. We may have seen the Days on Market figure hit the bottom for this year but year-over-year numbers show that we are still in a healthier market than 2014. If you're a buyer, you want to see the Days on Market increase because for you that means you have more time to think about a home before needing to make an offer. If you're a seller you want to list your house sooner rather than later before it begins to take more time to sell your home. Armed with a little knowledge and a hard-working real estate agent from Zion Realty buying or selling a home will be a little less stressful!