gilbert market update
DESCRIPTION
Gilbert real estate market update FebruaryTRANSCRIPT
GILBERTSolutions Real Estate
Sunday February 8, 2009
market update
THIS WEEKMedian List PriceReal-Time Market Profile Trend
$ 245,000
142Average Days on MarketAsking Price per Square Foot $ 110
Percent of Properties with Price Decrease 55 %Percent Relisted (reset DOM) 12 %Percent Flip (price increased) 3 %
The median single family homeprice in GILBERT this week is$245,000.
Market Action Index* 14Cold! Buyer's
Median Number of BedroomsMedian Number of Bathrooms
Median House Size (sq ft)Median Lot Size
2,207
4.02.5
Inventory has been decreasinglately but the Market Action Indexis falling also. With days-on-marketclimbing, these are relativelynegative implications for themarket.* see below for details on the Market Action Index
PRICEThe market seems to have pausedaround this plateau. The MarketAction Index is a good leadingindicator for the durability of thistrend.
SUPPLY AND DEMANDThe Market Action Index answers the question "How's the Market?" By measuring thecurrent rate of sale versus the amount of the inventory.
Local conditions are currently quitestrongly in the Buyer's Market zone(below 30). The 90-day MarketAction Index stands at 14. Withseveral months of inventoryavailable at the current sales rate,buyers should find ample choice.
Index above 30 implies Seller's Market conditions. Below 30, conditions favor thebuyer.
Bed BathMed.Sqft
Med.Age Inven. New
Ab-sorbedMed. Lot SizeMedian PriceQuart
Investigate the market inquartiles—where each quartile is25% of the homes
QUARTILESCharacteristics per Quartile
Avg.DoM
3,602 5.0 3.0 8 492 31 22$ 499,0001 Most expensive 25% of homes183Not Avail
2,586 4.0 2.5 8 492 45 25$ 289,9002 Upper-middle 25% of homes138Not Avail
1,959 4.0 2.0 10 492 48 47$ 210,0003 Lower-middle 25% of homes128Not Avail
1,573 3.0 2.0 9 493 39 34$ 157,9904 Least expensive 25% of homes121Not 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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