April saw an absolute free-fall in the amount of time it was taking to sell a home in Gilbert, Arizona but May's results show a steadying of the ship. On average in the month of May 2016 a home in Gilbert took 60.7 days on the market which isn't even a 1 day increase over the previous month's numbers. Going back a full year to May of 2015 the average home in Gilbert sold after 65 days on the market so we have certainly seen a slight improvement in even the year over year numbers. There are still some homes in the most highly sought after neighborhoods and locations which are selling almost as fast as they are being placed up for sale, and yet some other homes in the higher price brackets 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.
We are now fully entrenched in the busy Summer selling season. Historically during this time of year it takes less time to sell a property as there are more buyers in the market for a new home. 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. The Summer time real estate market will bring 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!