The Gilbert AZ real estate market summary contains detailed information regarding the current climate in real estate. This data shows us what most buyers and sellers are experiencing right now in our local Gilbert housing market.
Inventory of homes for sale in Gilbert Arizona is very low right now and based on the absorption rate of 2.48 months, we can see that we are continuing to experience a “seller’s market.” If you are thinking about listing your home for sale, then now is a great time to jump in with both feet. If you are a home buyer, then the absorption rate will be important for you to consider when writing an offer on a home. In a “seller’s market,” a buyer is more likely to face multiple offer situations or have difficulty finding a home to meet all of their wants and needs. If you are a home seller, then the absorption rate will be important for you to consider when pricing your home for sale. In a “seller’s market,” a seller is more likely to achieve a higher sales price or get closer to asking price than if they were trying to sell in a “buyer’s market.”
In a “seller’s market,” the number of listings will be down, listing prices will be up and the sold to list ratio will also be higher. Click on the Market Summary report for more detailed information regarding home sales in Gilbert AZ.
Absorption Rates Defined:
1 – 4: If the absorption rate falls in the range between 1 and 4, then we consider that a “seller’s market” meaning there are fewer homes on the market for sale and therefore less competition for sales in the neighborhood. In a “seller’s market” a home seller may decide to price their home more aggressively based on the limited supply of homes on the market.
4 – 7: An absorption rate anywhere from 4 to 7 indicates a more balanced market where neither buyers nor sellers have the upper hand. Homes that are priced well and show well are still likely to sell relatively quickly in a balanced market.
7+ : An absorption rate higher than 7 tells us that there are more than 7 months supply worth of inventory of homes for sale in that neighborhood which indicates a “buyer’s market.”
If you are a homeowner in Gilbert and you are thinking about selling your home, then please don’t hesitate to contact Keely Semon for a FREE market analysis of your property. If you are simply curious about what the home sold for down the street in your neighborhood, then please call 480.220.1321 today!
Keely is an experienced, local Realtor serving the areas of Gilbert, Chandler, Mesa, Tempe, Queen Creek and the surrounding communities in the East Valley. She would be honored to assist you on your real estate journey and help you to navigate the process of buying and selling AZ Real Estate. From start to finish, she will be there to support you, answer your questions and calm your nerves at times too!
United Brokers Group