This last month, our average sales price for Maricopa & Pinal counties was $248,360 and the average time on the market was 63 days. When we narrow that number down to Gilbert specific numbers we can get a better picture of what the market is doing. Last year in July, 2012, we had 6,996 homes sold for an average price of $197,536 in 70 days in other words, a 21% gain year over year.
As for Gilbert, we sold 520 homes in July 2013 for $270,147 in 49 days on average. In 2012, we had 413 sales for an average of $236,440 in 66 days. Keep in mind, the difference in sales numbers comes from the supply available to buyers in the marketplace. Gilbert home values have risen 12.5% year over year.
Homes For Sale in Gilbert
We can break this data down even further - Power Ranch had 35 homes sell in July 2013 for an average of $273,127 in 43 days. Currently we have 36 homes available in Power Ranch which means in reality we have only a 1 months supply. Last year, Power Ranch saw 22 homes sell in July for an average of $236,962 in 35 days. Power Ranch home values are rising faster then Gilbert as a whole at 13.2%.
Power Ranch is surrounded by a handful of other neighborhoods - Coronado Ranch, Windmill Ranch and San Tan Ranch who have also been gaining in property values.
- Coronado Ranch had 14 homes sell in July, 2013 for $280,057 in 68 days while in July, 2012, 9 homes sold for $199,389 in 27 days on average which is a 28.8% gain in values! See Homes For Sale in Coronado Ranch
- Windmill Ranch had 1 home sell this July for $279,000 in 44 days while last year nothing sold in the month of July however, June of 2012 saw 1 sale at $208,000 in 36 days. See Homes For Sale in Windmill Ranch
- San Tan Ranch had 16 homes sell this month for $226,006 in 47 days and last July saw 13 sold homes for an average of $201,165 in 27 days. San Tan Ranch experienced a 10.9% gain in value. See Homes For Sale in San Tan Ranch
As a whole, the 85297 zip code saw home values rise from $255,128 to $291,070 or 12.3% as a whole. We expect similar numbers for the remainder of 2013. See Homes For Sale in 85297.
Want to know what your home's value is? Contact Chelsea Elwood at 602-748-6136. Chelsea is a Power Ranch resident and Gilbert Real Estate expert.
