Seville ,Gilbert Market Update - 9/7/20

Seville , Gilbert Market Update - 9/7/2021

Hi, this is Merrill Jencks with the Big Helper Real Estate Group. I'm coming at you with an update regarding the housing market for the neighborhood of Seville in Gilbert Arizona so if you don't live in Seville you'll probably find this really really boring but if you do live in Seville hopefully you'll find it interesting just giving you some cool numbers and data about what is currently for sale what is recently selling and hopefully giving you a better idea of what your home is worth but if you ever want to have a custom analysis done in your house even if you're not interested in selling maybe you're just updating your net worth spreadsheet or whatever it is let me know. I'm always more than happy to give you that update and give you an idea of what a buyer will be willing to pay for your home in this crazy market.

So I'm going to go ahead and share my screen with you so that I can jump into the numbers a little bit. Right now in Seville, we have eight active listings, cheapest one currently is priced at 489 and the most expensive is priced at 825 000. eight active listings are better than we have had in the past a few months ago we only had two active listings in the neighborhood at one point so eight is a little bit more of a decent respectable number there are however 25 listings in the neighborhood that are currently pending and then 11 listings that have sold in the past 30 days.

The 11 listings that have sold in the last 30 days range from 420 000 being the cheapest all the way up to 3.5 million the 3.5 million dollar home ties the most expensive home ever sold in the MLS in Seville maybe there was some sort of a private sale or but anything that's ever sold in the MLS only one other home has ever sold that high at 3.5 million so I wanted to kind of give you the averages of the homes that have sold in the past 30 days but including this 3.5 million one is a little you know not very often only one time ever has another home sold at that price and it's thrown off the numbers so I did remove it in transparency removed that home from our other sales to give you the kind of monthly numbers the average sales price again removing the 3.5 million was 609 400 with home selling for an average of two percent above the asking price  so we're still seeing a month or two ago we were at three or four percent above asking price but demand is still high enough that that homes are still going above list and the average days on market for these 16 homes was i'm sorry for these 11 homes now I just ruined it  was only 16 days.

The average price per foot this is where you can like kind of take this information and possibly apply it to your home if you have a fairly typical you know  typical home the cheapest price per foot of these comps was 236 the average price per foot was 257 and the most expensive price per foot was 300 303 dollars per foot again probably yeah the the the 3.5 million did sell for 458 dollars per foot it's also on almost two acres so there you have it there's a quick update for you regarding the Seville and what's going on with the market of the month supply of inventory number we take the actives the eight actives divided by the 11 that have sold in the past 30 days is 0.73 again a balanced market would tend to have around a five-month supply of inventory

So we are expecting values to continue to rise although as we're in the fall and winter they might level off for a few months and then start to pick up and take off again in the spring of 2022. So 0.73 months by inventory still very very very strong seller's market but it is climbing right we were at a much lower number there are a few more houses for sale now and but as a whole, the Phoenix market as a whole is at a 0.84 month supply of inventory Seville currently small sample size is 0.73 so as a whole the neighborhood's a little more competitive than the market altogether so that's your update if you have any questions or you would like to get more information from us about anything as it pertains to real estate we would love to help let me know if you have any questions and have a great day!

What does this mean to you? If you're even a little bit interested in learning more about participating in the Seville housing market as a seller, buyer, or investor... you NEED to know this stuff! Or at least work with someone who is obsessed with the market stats. Reach out to me today so we can start working on making your real estate dreams a reality!

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