Yesterday, we posted an update on LUXE BLOG with some important stats for the city of Mesa. Today, we will take a similar look at data found while looking in the MLS at Gilbert, Arizona homes for sale. As of October 20th, 2022, there were approx. 833 active single family homes for sale in Gilbert (this excludes condo, townhome, and manufactured homes). Out of the 833 active listings, prices ranged from $360,000 to $4,850,000.
Additionally, there were 16 homes listed under the ‘Coming Soon’ status. These 16 homes ranged in priced from $509,000 to $1,599,000.
Greater Phoenix is comprised of 17 primary cities/areas. These areas are all individually measured by MULTIPLE real estate data companies. Via using CromfordReport.com, over the past several months, Gilbert has been one of the hardest hit cities in Greater Phoenix. In fact, using what is called the CMI, it scores 12th out of the 17. And when you look at Gilbert’s CMI compared to the best-performing city/area (Paradise Valley), as of this blog, Gilbert’s CMI was 86.2 while PV’s was 159.2.
Why would Gilbert be so much more affected than Scottsdale (3rd strongest)? Gilbert, Arizona is located more on the outskirts of the valley. It also consists of many typical stucco homes etc. Cities closer to more established areas such as Downtown Phoenix and Scottsdale, Sky Harbor Airport, medical hubs, etc. are all performing better than areas on the outskirts of the valley.
With Gilbert homeowners now starting to awaken to the facts our market has changed, we’re already seeing deals being scored. In fact, one of our team members just used the type of knowledge we as a team carry to negotiate a RIDICULOUS price for a home in Gilbert that he is buying for himself! From the listing price being heavily reduced to the seller paying ALL KINDS OF CONCESSIONS, this is EXACTLY what we LOVE real estate.
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