Success is a byproduct of helping others. Today, the sale of 1028 W. Tremaine closed as expected. This listing hit the market on June 2nd, received its first offer in 17 days and found its way into escrow within 22 days. The new homeowners are very pleased with their purchase and I am ecstatic to have a satisfied seller.
The property was listed at $239,000 and closed today at $225,000, which is 94.1% of what we were asking. Not bad considering the market conditions. Gilbert has seen quite a bit of action in the past months, especially in Cayman Square, but just like any other market, price is driving the sale of the homes.
Over the past 6 months, in Cayman Square, single family detached homes with the same square footage as 1028 W. Tremaine have consistently sold at an average of $136.00ft/sq. In February, we saw 1103 W. Heather sell at a full price offer of $230,000.00 after only 14 days on market. 2 Months later, yet another identical unit sold at $213,500 or 92.9% of the original $229,900 asking price. On the 1st of May we saw 605 N. Ocotillo go for $10.00 more than the list price at $215,000. Although listed shortly after our property, 621 N. Ocotillo closed on the 28th of July at a full asking price of $225,000.
There are currently two active listings that have not seen any action, which is unlike the rest, which closed in an average of 17 days. These are 1102 W. Laurel which has been on the market for 83 days, first listed at $229,000 on May 11th with a recent 5.2% price drop to $217,000 on July 17th, and 616 N. Ocotillo, first listed on July 1st at $239,900.00 which is well above the average sale price in the area. It will not sell for $239,900.00.
All of these properties are within a stone’s throw to 1028 W. Tremaine, and all of the ones that have sold have one thing in common. The price was right.
The evidence is before you and will help you determine what your home should be priced at should you be ready to sell. Now is a fantastic time to buy if you’re planning on expanding or moving up. Take a look at the following image to see the current Statistical Summary that I have put together.
All of this information has been provided free of charge as a courtesy to you and your neighbors in Cayman Square. If you are currently considering selling your home, I would love the opportunity to help you. Call me today! (602) 312-3262.