GILBERT ARIZONA REAL ESTATE MARKET UPDATE | NOVEMBER 2021

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GILBERT ARIZONA REAL ESTATE MARKET UPDATE | NOVEMBER 2021

Market Update – 00:57
Real Estate News – 04:07
Observations – 06:19

You already know we’re in a seller’s market, it’s been somewhat of a hot topic this year. In this video, I’m giving you a real estate market update for November 2021. I’m diving into what’s caused this extreme market and sharing my personal observations from the field.

My name is Brandy Aguirre and I’m a Real Estate Advisor in Gilbert, Arizona. Thanks for stopping by my channel! Make sure to subscribe because each week I post videos about the real estate market in Arizona, local Arizona highlights and real estate market updates.

In this video I’ll share data for the Gilbert area but if you’re curious about other cities within Maricopa County, reach out or drop a comment below and I’m happy to share an update for the other cities you may be curious about.

GILBERT UPDATE
There were 450 homes sold in Gilbert in November. That’s down just 3% from November 2020.

The median sales price in Gilbert in November was $535,000. That was a 29.4% increase over last year.

Based on current data and trends over the past year, it looks like prices will continue to rise for at least the next three months but likely all through 2022.

The most expensive home sold in Gilbert in November was over $2.3 million dollars. This home has 3 bedrooms, 5 bathrooms, 5,000 sq ft, a 4-car garage, a casita, and it sits on about ½ acre of land.

In April of this year, the average days on market in Gilbert dipped to 16 days and has been rising ever since.

In November, the average time a home was on the market before it sold was 28 days. That’s 3 more days on market than the previous month.
At this point it’s really hard to tell if these added days on market are due to seasonal patterns where the housing market slows down over the holidays, or if it’s an indication we are headed towards a slowdown. The inventory is still very low and the demand is still very high so all data points us to a continued seller’s market.

In November we had about 28 days of inventory. This has decreased by about 2 days compared to October. In a balanced market we would typically see between 3-6 months’ worth of inventory. At less than one month of inventory currently, we’re still a way away from seeing balance in the Gilbert housing market.

CONNECT WITH ME! ☎
PHONE : (480) 628-3946
EMAIL : brandy.aguirre@evrealestate.com
WEBSITE : https://brandyaguirre.evrealestate.com/
YOUTUBE : https://www.youtube.com/channel/UC5o7
FACEBOOK : https://www.facebook.com/BrandyAguirreEV
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LINKEDIN : https://www.linkedin.com/in/brandy-ag
TWITTER : https://twitter.com/brandyaguirreEV
TIKTOK : https://www.tiktok.com/@brandyaguirre…

Sources:

Eye On Housing : https://eyeonhousing.org/2021/01/u-s-population-growth-slows-many-states-see-decline/

Migration to Arizona : https://www.azeconomy.org/2021/08/economy/what-states-send-the-most-migrants-to-arizona/

AZ BIG MEDIA : https://azbigmedia.com/business/phoenix-no-1-in-net-migration-for-3rd-straight-year/

Cromford Report : https://cromfordreport.com/

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