Gilbert home resales rise as prices fall
Kerry Fehr-Snyder
The Arizona Republic
Mar. 11, 2008 11:40 AM
First, the good news: The number of single-family homes resold in Gilbert increased to 265 in February from 230 the same month last year.
Now the bad news: The town’s median, or middle, sales price fell to $254,700 from $307,500 for the February 2007.
Other Southeast Valley cities, meanwhile, saw declines in both number of homes resold and their median prices in February compared with the same month a year ago.
• Mesa’s resale market dipped to 390 homes from 460, while the median price fell to $208,750 from $238,500.
• Chandler’s resales fell to 230 from 280, and the median price fell to $244,000 from $307,500.
• Tempe recorded 80 sales and a median price of $240,000 compared with 135 sales and a $280,000 median price last year.
• Ahwatukee’s resale market fell to 65 from 85, and the median price fell to $307,700 from $373,000.
