gilbert market report 12/25/08
DESCRIPTION
Gilbert Market Report 12/25/08TRANSCRIPT
GILBERTSolutions Real Estate
Sunday December 21, 2008
market update
THIS WEEKMedian List PriceReal-Time Market Profile Trend
$ 254,000
135Average Days on MarketAsking Price per Square Foot $ 116
Percent of Properties with Price Decrease 56 %Percent Relisted (reset DOM) 11 %Percent Flip (price increased) 3 %
The median single family homeprice in GILBERT this week is$254,000.
Market Action Index* 17Cold! Buyer's
Median Number of BedroomsMedian Number of Bathrooms
Median House Size (sq ft)Median Lot Size
2,250
4.02.5
1.0 - 2.5 acresThe Market Action Index has beentrending down lately, whileinventory and days-on-market areclimbing. The trends imply aweakening market.
* see below for details on the Market Action Index
PRICEAgain this week we see a downwardnotch for prices. Pricing has beenweak in recent weeks and versustheir absolute-high levels. TheMarket Action Index is a goodleading indicator for the durabilityof this trend.
SUPPLY AND DEMANDThe Market Action Index answers the question "How's the Market?" By measuring thecurrent rate of sale versus the amount of the inventory.
Local conditions are currently quitestrongly in the Buyer's Market zone(below 30). The 90-day MarketAction Index stands at 17. Withseveral months of inventoryavailable at the current sales rate,buyers should find ample choice.
Index above 30 implies Seller's Market conditions. Below 30, conditions favor thebuyer.
Bed BathMed.Sqft
Med.Age Inven. New
Ab-sorbedMed. Lot SizeMedian PriceQuart
Investigate the market inquartiles—where each quartile is25% of the homes
QUARTILESCharacteristics per Quartile
Avg.DoM
3,616 5.0 3.5 7 496 17 24$ 529,9501 Most expensive 25% of homes179Not Avail
2,610 4.0 2.5 8 496 20 29$ 301,9452 Upper-middle 25% of homes132Not Avail
2,006 4.0 2.0 9 497 33 36$ 219,0003 Lower-middle 25% of homes120Not Avail
1,573 3.0 2.0 10 497 30 28$ 165,0004 Least expensive 25% of homes110Not Avail
David Dion | Solutions Real Estate | 480-332-5942 | www.SolutionsRealEstate.com
Altos Research Corp. reports real-time analysis of the residential real estate market in local markets across the country. Allinformation contained herein is based on properties currently listed for sale and available publicly. When evaluating aparticular property, make sure you use comparable sales data in addition to the market trend information available in thisreport. The data presented in this report is accurate to the best of our knowledge, but cannot be guaranteed as such. Usethis report as one input in the real estate decision making process, but do not rely on it for accuracy. Nothing in this reportor any other Altos Research publication is a recommendation to buy or to sell real estate. We recommend you work with alicensed real estate agent or broker.
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