REAL ESTATE
GILBERT SUN NEWS | JANUARY 17, 2021
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Different year, same market conditions BY MINDY JONES NEVAREZ GSN Guest Writer
M
y ears are still ringing after the celebration that was New Year’s Eve in Gilbert – did you hear it? It was a mixture of fireworks, singing, yelling and probably a lot of general celebration for the end of one of the most unprecedented, unexpected, uncalled for years of immense loss, unanticipated challenges and unappreciated fear. What I woke to, however, was this amazing display of grit usually reserved for a toddler as they get back up after tumbling
to the ground - with determination, and focus and a unique energy that can only be manifested after a fall. There was this trend on social media of posting the best memories you had from 2020, which was this beautiful way of acknowledging that we all experienced a year like no other AND simultaneously we all experienced a year like no other. Taking a moment to reflect on the year that we had and how much had changed, it was nice to see how much had really stayed the same. The real estate market was a similar mirror of our experiences. The trends followed our patterns of anxiety and anticipation of the new year and while unexpected outcomes created new challenges for us to tackle in 2021, our
houses still remain one of the most important things to our families – and in some ways, more important now than ever. We started January 2021 with one of the lowest home inventories in history. After under-building in the Valley for over 10 years and continued population growth, the low interest rates of 2020 ensured that we would not be making any headway in closing the inventory gap with the new construction you see sprinkled across the Southeast Valley. Surprisingly, we actually had about the same number of new listings in Gilbert in
2020 as we did in 2019 – but with 35 percent more sales than your typical year. We still ended up with less than 100 single family homes in Gilbert without a contract. We’ve watched prices soar more than 17 percent annually in Gilbert with 65 percent less supply and homes selling on average for 100.13 percent of list – meaning that some are selling for WAY over list and others right about list price. We reached an all-time low of just seven days of inventory in the town – meaning
SPO OTLIGHT home
UNDER CONTRACT 24 Offers Received
Melanie Nemetz
Ask us how we helped our recent sellers maximize their sale price.
see MINDY page RE2
Welcome to the Islands neighborhood of Gilbert! See Page 4
Amy Jones Group
Listed for $275,000!
Our extensive, high quality marketing of your home combined with our thorough preparation of listing the home for sale, will help your home sell faster and for more money. Here is a sample of the marketing for our listings: ◆ Home Staging Report by Interior Designer & Stager ◆ Professional video of home ◆ Professional photos of home ◆ Twilight photos ◆ Community photos ◆ Aerial drone video/photos ◆ 3D Interactive floor plan - Matterport www.fosteringre.com Each office is independently owned and operated ◆ Open house first weekend on the market
480.221.3034
See Page 5