Gilbert, AZ – Real Estate Market Data – December 2012
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December Property sales were 405, up 1.0% from 401 in December of 2011 and 5.4% lower than the 428 sales last month. December 2012 sales were at a mid level compared to December of 2011 and 2010. December YTD sales of 4,993 are running 8.7% behind last year’s year-to-date sales of 5,466.
The Median Sales Price in December was $210,000, up 23.6% from $169,900 in December of 2011 and equal to $210,000 last month. The Average Sales Price in December was $232,914, up 19.2% from $195,359 in December of 2011 and up 0.1% from $232,581 last month. December 2012 ASP was at the highest level compared to December of 2011 and 2010.
The Total Inventory of Properties available for sale as of December was 794, down 6.4% from 848 last month and down 17.7% from 965 in December of last year. December 2012 Inventory was at its lowest level compared with December of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2012 MSI of 2.0 months was at its lowest level compared with December 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 December was 41, up 32.3% from 31 days last month and down 31.7% from 60 days in December of last year. The December 2012 DOM was at its lowest level compared with December 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.