The amount of time it's taking to sell a home in Gilbert, Arizona unexpectedly increased in February after leveling off the previous month. On average in the month of February 2016 a home in Gilbert took 79.3 days on the market before finding a buyer. This was almost a 10 day increase from January of 2016 when it was only taking an average of 70.8 days to sell a home in Gilbert. However, going back a year to February 2015 the average home in Gilbert sold after 87 days on the market so we have certainly seen an improvement year over year. There are still some homes in price ranges around $200,000 which are selling almost as fast as they are being placed up for sale, and yet some other homes in higher price ranges are taking longer than the average to sell.
The most competitive price range in Gilbert, Arizona currently is that of the first time home buyer between $200,000 and $250,000. Homes in that price range are being bought up the quickest and some are receiving multiple offers within the first few weeks of being listed for sale.
As we rapidly approach the busy Spring and Summer selling season, historically it will begin taking less time to sell a property as there are more buyers during that time of year. We may have started 2016 on a bit of a low note but year-over-year numbers show that we are still in a healthy market. If you're a buyer, you want to see the Days on Market increase because for you that means you have more time to think about a home before needing to make an offer. If you're a seller you want to list your house sooner rather than later before the Spring time real estate market brings more listings and more homes competing against yours for the eyes and dollars of buyers. Armed with a little knowledge and a hard-working real estate agent from Zion Realty buying or selling a home will 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!