Solutions Real Estate
market update
GILBERT Sunday February 8, 2009
Trend
Real-Time Market Profile
THIS WEEK
Median List Price $ 245,000 Asking Price per Square Foot $ 110 Average Days on Market 142 Percent of Properties with Price Decrease 55 % Percent Relisted (reset DOM) 12 % Percent Flip (price increased) 3% Median House Size (sq ft) 2,207 Median Lot Size Median Number of Bedrooms 4.0 Median Number of Bathrooms 2.5 Market Action Index* Cold! Buyer's 14
The median single family home price in GILBERT this week is $245,000.
Inventory has been decreasing lately but the Market Action Index is falling also. With days-on-market climbing, these are relatively negative implications for the market.
* see below for details on the Market Action Index
PRICE The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.
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 14. 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
$ 499,000 3,602
Not Avail
5.0
3.0
8
492
31
22
183 Most expensive 25% of homes
2
$ 289,900 2,586
Not Avail
4.0
2.5
8
492
45
25
138 Upper-middle 25% of homes
3
$ 210,000 1,959
Not Avail
4.0
2.0
10
492
48
47
128 Lower-middle 25% of homes
4
$ 157,990 1,573
Not Avail
3.0
2.0
9
493
39
34
121 Least expensive 25% of homes
Quart
Median Price
David Dion | Solutions Real Estate | 480-332-5942 | www.SolutionsRealEstate.com