Absorption Rate in Gilbert, Arizona October 2015
What is the Absorption Rate when it comes to real estate? The Absorption Rate chart shows how long the current inventory of properties would last at the current rate of sales. If no new properties were added to the market, and sales continued at a steady pace, the Absorption rate indicates the number of months required to sell all the properties on the market. In a healthy real estate market this number should hover around a 3-Month average. As you can see the Gilbert, Arizona real estate market has been just below that mark since December 2014 meaning total inventory has been slightly lower than the market can actually handle.
The amount of available homes for sale in Gilbert had been on the decline since May 2015. Gilbert finally saw a slight increase in the amount of inventory on the market in October. The current supply of homes sits at a 2.6 month supply. The Gilbert. Arizona market is still seeing a high level of competition in the first time home buyer market...read more.