I Thought You Said It Was a Buyer’s Market!

Earlier this week, I was chatting with someone about the real estate market in Gilbert and Queen Creek, AZ. When I mentioned that we’ve been in a buyer’s market since the last quarter of 2024, they looked surprised.

“Wait a minute… I just saw that home prices have gone up by 5% compared to last year!”

Yes, that statistic is true—but it’s crucial to understand what’s driving those numbers and how they impact your home buying or selling strategy.

Why Are Home Prices Rising in a Buyer’s Market?

The increase in median home prices doesn’t necessarily mean all homes are worth more. The main reason for this trend is the disproportionate activity in the luxury market compared to everything else.

Here’s what’s happening:

✅ Luxury Homes ($1M+ Market) Are Selling Steadily – Wealthier buyers are less affected by interest rate hikes, so demand for high-end homes remains strong.

✅ Slower Activity in Homes Under $1M – Higher mortgage rates have cooled demand for homes in the more affordable price ranges.

✅ Sellers Are Offering More Concessions – Many sellers of homes under $1M are keeping their listing prices flat but giving buyers credits for closing costs or interest rate buy-downs to help with affordability.

What does this mean? The median home price has increased because of more luxury home sales, not because every home is suddenly worth more. At the same time, sellers in lower price brackets are often walking away with less money, even if prices appear stable.

What This Means for Buyers and Sellers in Gilbert & Queen Creek

🔹 For Buyers: It’s still a great time to buy with sellers offering rate buy-downs and closing cost credits. You may have more negotiating power than you realize!

🔹 For Sellers: Pricing your home correctly is more important than ever. The right marketing strategy and buyer incentives can make all the difference in this shifting market.

Why You Need Expert Guidance in Today’s Market

Real estate trends can be misleading if you’re only looking at broad statistics. Every home, neighborhood, and price range behaves differently. That’s why working with an experienced real estate professional in Gilbert and Queen Creek is so important.

If you’re thinking about buying or selling a home in Gilbert or Queen Creek, let’s connect! We’ll help you understand the market, strategize your next move, and get the best deal possible.

Until next time my friends,

 

Mark NEwman

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