What is happening to the Seville housing market?? - Seville Market Update September 2021

Hello everyone and welcome to a new update for the Seville neighborhood in the  Gilbert Arizona looking specifically at the stats and the numbers for what is going on with the real estate market and the homes that are on the market and the homes that are selling and giving you an idea of you know average prices and price increases and projections and hopefully sharing some really helpful information.

 If you own a home in Seville, I think you'll love this information because it'll give you an idea of how much equity you're growing and what's happening with your net worth however the numbers are very broad right as we know in Seville their homes range currently from the 400s up to multi-millions of dollars and so when we're looking at these numbers as a whole and kind of averaging them out. It might not give you a great idea of the value of your home, if you would like an update on what your home is worth I will spend time doing a custom not just some automated like I'll put together a custom, market analysis and I'll give you an update on what I think your home is worth even if you have no intention of selling maybe you just want to update your net worth spreadsheet. I know I do mine every month, so if you'd like an update on what your home is worth let me know and I will give you an idea of what buyers would likely be willing to pay for your home in this crazy market. 

All right let me go ahead and share my screen with you as always because I like to be able to show you I don't want you to just take my word for it. I'm going to show you here exactly what we have going on. So right now in Seville, we have a total of nine active listings, the cheapest home is currently priced at five hundred and ten thousand and the most expensive is at 1.55  so that is what is currently available for sale in Seville we do have  25 homes in the neighborhood that are currently pending and then in the past 30 days we've had 17 closings of the homes that have sold in the past 30 days the cheapest home went for 440 000 and the most expensive went for 1.1 million.

All right of these homes that sold and Ii think this is helpful because you know maybe you see your floor plan as we know there's a couple of floor plans that are really really common in the neighborhood. If you're not in the states you know the two-story with the turret here's one of those that sold for 7.75 some have gone for a higher price than the single-story 2700 square foot with a three-car garage there's one that went for 700. Obviously, just kind of giving you a rough idea of what some of the homes are going for but of all the homes that have sold the average price was 632 000, the average price per foot was 259 dollars and six cents average days on market for these homes was 23 days and the average sold to list price ratio was 102 meaning you know on average homes are selling for two percent above the asking price now if we look at the same 30-day period a year ago,  the average there were 33 sales so almost twice as many homes sold over the same 30-day period a year ago which is an interesting step because the market as a whole like if we look at the whole Phoenix metro area you know very close to the same number of homes sold in you know September of 2021 is what sold in September of 2020. but for whatever reason, just the way the numbers landed for Seville 17 homes sold in the past 30 days same 30-day period a year ago 33 homes sold, and of those 33  the average price was 531 000.

So that means we've seen an average price increase over the past year of 19 which is basically the same as what the market has done the same as what the market as a whole, you know the whole MLS, the whole Phoenix metro area has also increased by 19 and the average so yeah average price was 531 000 so the average increase of a typical home in Seville from last year to this year was 100 908 dollars the interesting thing is that the price that the days on market a year ago was actually longer at 35 days and the average sold to list price ratio a year ago was 100 compared to 102 percent now. So most of the even though fewer homes sold this year the stats make it look like you know the market is continuing to increase obviously average prices have increased but days on market is shorter sales to list price ratio is higher and inventory is still pretty low with only nine active listings and 17 have sold in the past 30 days the month's supply of inventory number for Seville is 0.5 the market as a whole again the entire MLS is 0.9 so neighborhood continues to outperform, the market as a whole in terms of its month's supply of inventory so, we expect home prices will continue to increase although now that we're in the fall it'll probably stabilize throughout the rest of the year.

 I don't think we'll see huge gains over the next three months we'll probably see home prices really stabilize and then come the spring you know March, April, May I think it'll start to go crazy and home prices will increase pretty dramatically again so if again if you would like a breakdown of these numbers or you would like to see an update regarding your specific home please hit me up I'd be more than happy to give you an idea some of those numbers thank you so much!

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 obsessed with the market stats. Reach out to me today so we can start working on making your real estate dreams a reality!