Gilbert Homes Undervalued?
May 11th, 2009
Categories:Real Estate News
According to the Cromford report, their data shows Gilbert homes are selling at early 2004 prices, (in terms of price per square foot). The image below shows the data as it is represented by Cromford.
A Break Down Line by Line:
- Blue (2004) – Notice the uptick in prices from July to December
- Green (2005) – From January to November the prices skyrocketed
- Red (2006) – The market was surprisingly stable for the first 6 months, before dropping in prices from June to September
- Purple (2007) – The first 5 months proved a little erratic before prices began dropping in May
- Olive (2008) – The most dramatic drop occurred here
- Orange (2009) – We’ve had a pretty stable market and the prices are sitting just below/around early 2004 prices, which would give you the impression the market has done its “reset”
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