Solutions Real Estate
market update
GILBERT Sunday January 18, 2009
Trend
Real-Time Market Profile
THIS WEEK
Median List Price $ 244,450 Asking Price per Square Foot $ 113 Average Days on Market 142 Percent of Properties with Price Decrease 55 % Percent Relisted (reset DOM) 12 % Percent Flip (price increased) 4% Median House Size (sq ft) 2,223 Median Lot Size 8,001 - 10,000 Sq. Median Number of Bedrooms 4.0 Median Number of Bathrooms 2.5 Market Action Index* Cold! Buyer's 16
The median single family home price in GILBERT this week is $244,450.
Inventory has been tightening and days-on-market increasing recently. The Market Action Index has been basically flat, not providing strong indication for market conditions.
* see below for details on the Market Action Index
PRICE Despite this week’s down tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.
The Market Action Index answers the question "How's the Market?" By measuring the current rate of sale versus the amount of the inventory.
SUPPLY AND DEMAND Local conditions are currently quite strongly in the Buyer's Market zone (below 30). The 90-day Market Action Index stands at 16. With several months of inventory available at the current sales rate, buyers should find ample choice.
Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.
QUARTILES Characteristics per Quartile Investigate the market in Med. Ab- Avg. quartiles—where each quartile is Bath Age Inven. New sorbed DoM 25% of the homes
Med. Sqft
Med. Lot Size
Bed
1
$ 499,900 3,542
Not Avail
4.0
3.0
8
477
26
31
179 Most expensive 25% of homes
2
$ 290,000 2,540
Not Avail
4.0
2.5
8
477
27
26
141 Upper-middle 25% of homes
3
$ 213,825 1,982
Not Avail
3.0
2.0
9
478
51
22
123 Lower-middle 25% of homes
4
$ 162,000 1,593
Not Avail
3.0
2.0
10
478
33
33
126 Least expensive 25% of homes
Quart
Median Price
David Dion | Solutions Real Estate | 480-332-5942 | www.SolutionsRealEstate.com