The Gilbert, Arizona real estate market experienced the typical plateau that comes at this time of year. Active homes for sale flat lined at an average price of $320,000. This is still a significant increase from 2014 values when the average active list price from a year ago was $299,900. Sold listings experienced a slight decrease to settle in at an average of $265,000. This was a $3,000 drop from October's numbers. The biggest change was seen in the New listings category. New homes just coming on to the market for sale saw an increase in the asking price of over $15,000 as compared to October's values.
So what do these numbers mean if you are a current homeowner in Gilbert or you wish to become one? Buyers and sellers are not on the same page when it comes to home prices and values. This can typically happen during the Fall and Winter months. Sellers can easily over-value their properties based upon the busy Summer month totals while buyers begin to pull back the reigns on their home spending due to the holidays. The gap between what buyers are willing to pay and what sellers are attempting to get for their home usually widens at the end of every year and even for the first few months of the upcoming new year. If you're attempting to sell your home during the Fall and Winter months it's more important than ever to set a realistic price for your home. A seller will not typically be able to get the same value out of their property that they could have gotten during the Spring and Summer when home values are on the rise instead of on the decline.
Regardless of the current prices in November, if you are a current homeowner, you have seen some steady equity built in to your property over the past year. Conversely, if you have been thinking of purchasing a property in Gilbert there are some price ranges that are once again seeing multiple offers placed on homes and buyers are snapping up the most affordable houses that hit the market each week. But armed with a little knowledge and a hard-working real estate agent from Zion Realty wrapping up that perfect home before another buyer gets to it should be a little less stressful!
If you need more information on homes for sale in Arizona or to find out what your current home is worth contact us Today!