Lago Estancia Gilbert AZ Posts 45% Decline in Listed Homes

As of August, the Lago Estancia development in Gilbert AZ saw 16 actively listed homes in 2015. With 7 houses for sale, the 200,000-249,999 price range recorded one of the highest numbers of properties. The total amount of active residential listings in Lago Estancia had a 44.8% reduction from the same period one year ago, which reported 29 residences for sale, a year-to-year net fall of 13 residential homes. The average year-to-date active list price showed a net drop of 2.0% compared to this period during 2014, dropping to $259,481. The cumulative days on market for actively listed homes for sale in Lago Estancia was 107 days through August. This is a 35.4% advance when compared to this reporting period during 2014. Property listings require more time to sell this year on average.

Property Sales Show 7% Drop. Lago Estancia had a total of 13 residential properties sold year to date through the month of August 2015, and the average price of $245,992 showed a net increase of 1.6% from this period last year. In comparison to the same reporting period a year ago, which posted 14 properties sold, Lago Estancia posted a 7.1% decrease in total volume of sold listings, a year-to-year decline 1 completed transaction. With 5 homes sold year to date, the 200,000-249,999 price bracket posted one of the largest numbers of closed sales.

Sam Lawmaster is a Gilbert REALTOR who specializes in residential listings. Information supplied by ARMLS and deemed reliable but not guaranteed; percent changes rounded. To receive current Lago Estancia real estate market info or to obtain a free evaluation of your home, please call Sam with Realty ONE Group at (602) 680-8096 or contact us here.

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