Market Report - Listing Prices in Gilbert, AZ - January 2016

The Gilbert, Arizona real estate market is experiencing the typical pricing slump that comes during the Winter season. Prices for Active homes up for sale on the market decreased to an average of $319,000 which is a $6,000 drop from the previous month, however it is still an $8,000 increase from January of 2015.  Sold home values also experienced a decrease to settle in at an average of $260,000 which is almost a $10,000 drop from December of 2015 values. The biggest slide has been seen in the New listings coming on to the market. Over the past two months New homes being put up for sale have seen the asking price drop an average of almost $15,000. 

So what do these numbers mean if you are a current homeowner in Gilbert or you wish to become one? Buyers and sellers are 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, the reduced amount of buyers that are in the market to purchase a home are looking to get the most out of their shopping dollar and seeking to get as much value as possible. 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!