Gilbert AZ – Real Estate Market Data – January 2012

Gilbert AZ – Real Estate Market Data – January 2012

Click here for full report – Gilbert 2012-01

Property Sales

January Property sales were 340, down 3.4% from 352 in January of 2011 and 15.6% lower than the 403 sales last month. January 2012 sales were at a mid level compared to January of 2011 and 2010. January YTD sales of 340 are running 3.4% behind last year’s year-to-date sales of 352.

Prices

The Median Sales Price in January was $169,950, up 6.9% from $159,000 in January of 2011 and up 0.0% from $169,900 last month. The Average Sales Price in January was $193,797, up 3.4% from $187,369 in January of 2011 and down 0.7% from $195,073 last month. January 2012 ASP was at a mid range compared to January of 2011 and 2010.

Inventory & MSI

The Total Inventory of Properties available for sale as of January was 1,036, up 1.7% from 1,019 last month and down 46.9% from 1,951 in January of last year. January 2012 Inventory was at its lowest level compared with January of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The January 2012 MSI of 3.0 months was at its lowest level compared with January of 2011 and 2010.

Market Time

The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for January was 53, down 11.7% from 60 days last month and down 34.6% from 81 days in January of last year. The January 2012 DOM was at its lowest level compared with January of 2011 and 2010.

Copyright © Coldwell Banker Residential Brokerage – Data is provided courtesy of Arizona Regional Multiple Listing Service, Inc.; Tucson Association of Realtors and Prescott Area Association of Realtors and may not reflect all relevant real estate activity. Coldwell Banker Residential Brokerage does not guarantee the accuracy of this information. It is the responsibility of any buyer or seller to verify any and all information relevant to such consumer’s real estate transaction.

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Coldwell Banker Residential Brokerage provides comprehensive real estate and relocation services for Greater Phoenix, Greater Tucson, Prescott and Lake Havasu City. Our AZrelocation Blog will provide you with extensive market data -- both on the metro and city levels -- along with relocation trends, area highlights and other valuable information.
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