Distressed home sales in Gilbert have decreased significantly as our local real estate market in Arizona has shifted over the past several years and we are no longer experiencing an abundance of short sales and foreclosures flooding the market. There are still areas of the valley where the number of distressed sales may be higher, but overall, the availability of distressed properties has gone down drastically. The information below was provided by the Arizona Regional MLS (ARMLS) and shows a detailed map view of the short sales, foreclosures, and total number of distressed properties found based on each zip code in the greater Phoenix area.
The zip codes found in Gilbert are 85233, 85234, 85295, 85296, 85297, and 85298. There were a total of 22 distressed properties in 85233, which represents 12.2% of the market. Zip code 85234 includes a total of 32 short sales and foreclosures representing 12.2% of all properties for sale in that area. 85295 has a total of 23 listings which comprises 9.0% of the market. Zip code 85296 shows 21 listings and 8.8% of the total actives. 85297 has a total of 25 distressed properties representing 9.7% of the market and 85298 has only 19 short sales and foreclosure for a total of 5.4% of the active listings. The market in our part of Arizona is certainly on the upswing as area home prices continue to rise while the number of available distressed homes continue to fall.
If you are interested in learning more about our local real estate market, please don’t hesitate to give me a call at 480.220.1321, or fill out the contact request form and someone will be in touch with you shortly.
Gathering intelligence on Short Sales and Foreclosures is now easier with the Distressed Property Report. This report contains three interactive maps: short sales, foreclosures and a map of all distressed properties. Each map is a snapshot of the active distressed property aggregated by ZIP code.
There are no “from” and “to” dates on the Distressed Property Report because the data is Active properties in the system on the day the report is published. The “Percentage of Actives” shows what percentage of Active listings are distressed in each ZIP code.