Thu Aug 23 2018 This week the median list price for Gilbert, AZ is $369,900 with the market action index hovering around 59. This is less than last month's market action index of 61. Inventory has held steady at or around 619 Single Family Homes.
Market Action Index
The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.
Strong Seller's Market
The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in Market Action Index, we’re in the Seller’s zone. Watch for changes, If the Market Action Index resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Source: Lawyers Title Market Report, Lawyerstitlearizona.com, 8/2018
Author:Matt Pennington Phone: 480-251-0280 Dated: August 23rd 2018 Views: 301 About Matt: Matt has been a licensed Real Estate Broker since 2003 and with American AllStar Realty since 2005. ...
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