Gilbert, AZ – Real Estate Market Data – September 2012
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September Property sales were 389, down 15.6% from 461 in September of 2011 and 14.1% lower than the 453 sales last month. September 2012 sales were at their lowest level compared to September of 2011 and 2010. September YTD sales of 3,792 are running 11.5% behind last year’s year-to-date sales of 4,287.
The Median Sales Price in September was $215,000, up 29.3% from $166,314 in September of 2011 and up 2.4% from $210,000 last month. The Average Sales Price in September was $232,785, up 22.9% from $189,450 in September of 2011 and down 1.3% from $235,838 last month. September 2012 ASP was at the highest level compared to September of 2011 and 2010.
The Total Inventory of Properties available for sale as of September was 912, up 3.8% from 879 last month and down 13.0% from 1,048 in September of last year. September 2012 Inventory was at its lowest level compared with September of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The September 2012 MSI of 2.3 months was at a mid level compared with September of 2011 and 2010.
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 September was 36, up 5.9% from 34 days last month and down 36.8% from 57 days in September of last year. The September 2012 DOM was at its lowest level compared with September of 2011 and 2010.
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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.