Every home owner wants to know how much their property is worth. Prices have long since stabilized for the most part here in Arizona and the dramatic shifts in upward and downward pricing have largely ceased. Bidding wars are few and far between and are only reserved for those most sought after locations around the Valley where properties rarely come available. But what can a home owner expect to get from their Gilbert, Arizona home? The Sold to List ratio in November saw the third straight month in declines in this statistic. According to the numbers, home owners are getting around 96.3% of their asking price when selling their home. Although the market is showing signs of home values decreasing this isn't out of the ordinary for the Fall and Winter season. Traditionally, prices and values will drop during this time of year and will start to see increases again once the busy Spring and Summer moving season begins.
The Sold to List price average is still at it's highest level in the past year which shows a strong and stable real estate market here in Gilbert, Arizona. This is also a good reminder to sellers that although you can list a home for sale at whatever price you feel is fair, the free-market will dictate what the home is worth. Ultimately, a home is only worth what someone is willing to pay for it. There are certainly homes that get offers at the full listing price but on average most home owners are only getting close to the 96.3% ratio shown in this latest graph.
Conversely, this is also a good reminder to buyers that sellers are getting the majority of their asking price so low-ball offers are not only being roundly rejected but are completely unrealistic in today's stable market. The Gilbert housing market has been steady all year so a dramatic drop in the Sold to List ratio would be a surprise as we head further in to the Winter real estate market slow down.
If you need more information on homes for sale in Arizona or to find out what your current home is worth contact us Today!