Some Buyers Are Driving Hard Bargains in Gilbert, AZ

  • Published: October 22nd, 2006
  • Author:
  • Comments Closed

It’s been a couple of weeks, so once more I”ve grabbed Friday’s Az Republc Home Sales Section (current sales listed in the Republic are not available online yet), and fired up Zillow  (which provides square footage of properties) to bring you this week’s home price trend in Gilbert.’s 85296. New homes are not included.

First, here’s the table of homes sold in 85296. Only homes available in Zillow are included, along with sq. ft prices calculations:

The average square foot price is $164, one dollar more than Gilbert’s average square foot price of $163.  $200+/sq. ft. has virtually disappeared, except in the smaller homes and properties with land. (2 properties not listed had selling prices of $200+/sq.ft., but they both involved acreage.)  While prices per square foot generally trend down as square footage increases, there are some notable exceptions.  Buyers are looking for bargains, and in many instances are finding them, resulting in a large variation in selling prices:

While some analysts are saying that the market is "bottoming out," that appears unlikely, as the square foot price remains highly variable, and the market continues in a state of flux.  Massive inventory and slowing sales should continue to exert downward pressure on prices.
Share

Related Posts

  1. Bigger Isn't Always Better in Gilbert, AZ (October 8, 2006)
    Tagged ,
  2. Gilbert, AZ 85234- Smaller Homes Commanding Better Prices (September 9, 2006)
    Tagged , ,
  3. Gilbert, AZ Home Pricing Messier in the Trenches (September 19, 2006)
    Tagged ,
  4. Gilbert, AZ- Prices are Confused- Zillow Not Keeping Up (September 1, 2006)
    Tagged ,
  5. Median Home Prices Belying Gilbert, AZ Market Conditions (July 14, 2006)
    Tagged

Written by

More posts by:

Comments are now closed.