Market Report - Listing Prices in Gilbert, AZ - December 2015

The Gilbert, Arizona real estate market experienced the typical plateau that comes during the Holiday season. Active homes for sale flat-lined at an average price of $325,000. This is still a significant increase from 2014 values when the average active list price from a year ago was $305,000. Sold home values experienced a slight increase from November 2015 to settle in at an average sales price of $269,900. This represents almost a $20,000 increase from 2014 values. The biggest change was seen in the New listings category. New homes just coming on to the market for sale in December of 2015 saw a decrease in the asking price of over $14,000 as compared to November'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 getting closer to being on the same page when it comes to home prices and values. Sellers are adjusting their asking prices to reflect the Winter real estate slow-down. Meanwhile, buyers are adjusting their expectations by showing a willingness to increase their offers which is contributing to pushing home values up instead of down which is not typical for this time of year. If you're attempting to sell your home during the 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 December, 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!