• Archive of "gilbert market conditions" Category

    Exceptionally Low Interest Rates for an Extended Period Of Time?

    August 11, 2010 // No Comments »

    Yesterday the Fed announced that they would like to see ”exceptionally low interest rates for an extended period of time.” They have committed to purchasing long term securities that directly impact mortgage interest rates.  Experts see a need to help our economy recover and low interest rates are one tool in the Fed shed for promoting economic activity.

    The last time the Fed did this was in early 2009, right around the time interest rates for long term mortgages went into free-fall! Rates dropped because the Fed’s purchasing presence spiked both the demand and price of mortgage bonds which directly lowers mortgage rates.

    This latest development will likely provide reinforced support for what are already historically low mortgage rates.  It may even provide enough pressure to push rates a bit lower.  I don’t expect the dramatic decrease we saw when the Fed initiated this type of buying in early 2009. Overall, I do expect our interest rate market to flirt with historically low levels for some time.

    Stay tuned, as I am sure there is more to come.

    :)

    Posted in arizona market conditions, gilbert market conditions

    Greater Phoenix Real Estate ~ May 2010 vs. May 2009

    June 19, 2010 // 1 Comment »

    Courtesy of the Arizona Regional MLS, the below two charts offer up a quick overview of the current market conditions in the Valley of the Sun. Whether you’re into comparing consecutive month over month stats (like May 2010 vs. April 2010), or year over year (like May 2010 vs. May 2009), the charts are provided to help us grasp the overall picture.

    Greater Phoenix Market Conditions

    Greater Phoenix Market Conditions

    Greater Phoenix Market Conditions

    Greater Phoenix Market Conditions

    I’m always extremely cautious about using real estate “averages”, as they can and do often skew the true picture of individual communities and areas. Nevertheless, there are a couple of points that are worth noting in the above charts.

    It’s interesting that normally at this time of year we experience an increase in listings – and yet the past 2 months has seen a decrease in listings. Anybody care to speculate on the reason(s) for this anomaly?

    The next observation is that the greater Phoenix market is holding fairly steadily in the number of Active listings as well as sales.

    Additionally, at roughly 4.5 months inventory, the greater Phoenix market appears to be showing some consistent stabilization.  As always, time will tell.

    NOTE:  The information and statistics contained in the above charts are deemed reliable, but not guaranteed. If you’re contemplating a major financial decision regarding residential real estate, please do yourself a huge favor and consult with a reputable real estate broker, attorney and/or accountant.

    Posted in arizona market conditions, chandler market conditions, gilbert market conditions, mesa market conditions, phoenix market conditions, queen creek market conditions

    Greater Phoenix Real Estate ~ December 2009 vs. December 2008

    January 1, 2010 // Comments Off

    Here ya go, boys and girls. Take a look at the charts below, courtesy of the Arizona Regional MLS. They provide a quick overview of the greater Phoenix real estate market for the past year, with particular interest and focus on the period of December 2009 as compared to December 2008.

    December 2009

    Phoenix real estate - December 2009 vs. December 2008

    I have a personal conviction that real estate should not be micro-analyzed, so I’m electing to not draw any conclusions or speculations from the latest “averages.” It’s clear that prices, on the average, are on the rise. Other than that, all indicators point to a bottoming of the residential real estate market in greater Phoenix.

    As always, the information and statistics contained in the above charts are deemed reliable, but not guaranteed. If you’re contemplating a major financial decision regarding residential real estate, please do yourself a huge favor and consult with a reputable real estate broker, attorney and accountant.

    Posted in arizona market conditions, chandler market conditions, gilbert market conditions, mesa market conditions, phoenix market conditions, queen creek market conditions

    Gilbert Real Estate – June 2009 vs. June 2008

    July 6, 2009 // Comments Off

    GILBERT, ARIZONA

    …a shining star in the Valley of the Sun!

    Sunset in Arizona

    June 2009 vs. June 2008


    443 single family detached houses were purchased last month vs. 329 last year (June 2008).

    The average price paid was $226,660 vs. $284,343 last year.

    The median price came in at $199,500 vs. $252,000 last year.

    The ratio of purchase price to list price was 98% vs. 97% last year.

    The average time on the market was 84 days vs. 96 days last year.

    There were 2,175 Active single family listings vs. 3,065 last year.

    Click Here for full current Gilbert Market Report

    Search Gilbert Homes

    All data is derived from the Arizona Regional MLS and is deemed reliable but not guaranteed.
    photo by Miguel Folch
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    Posted in gilbert market conditions