Is Gilberts, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Gilberts is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Gilberts has remained a Seller's Market.

Key Takeaway

Gilberts is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Gilberts, IL

How much do homes in Gilberts, IL cost?

Median Sold Price

$334,000

$167/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$34,000(+11.3%)

Key Takeaway

Homes in Gilberts have sold for 11.3% more than they did a year ago.

Summary: The median home sold price in Gilberts was $334,000 in May 2024, up 11.3% from last year, and the median price per square foot was $167.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $236K$275K
+16.5%
3 $289.9K$327.5K
+13.0%
4 $410.5K$452.4K
+10.2%
5+ $580K$522.5K
-9.9%

Summary: Gilberts housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 16.5%, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes decreased by 9.9%.

Median Sold Price Compared To Nearby Cities

Elgin
+16.5%
Gilberts
+11.3%
Dundee Township
+9.5%
Rutland Township
+6.5%
West Dundee
-4.8%

Housing Supply in Gilberts, IL

How many homes are available in Gilberts, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3040+33.3%

Summary: The Gilberts real estate market had 40 homes for sale in May 2024, a 33.3% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 612
+100.0%
3 1414
0.0%
4 912
+33.3%
5+ 12
+100.0%

Summary: The Gilberts housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
59+80.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gilberts, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 9 homes were sold or pending in Gilberts in May 2024, up by 80.0% month-over-month. Of the 9 sold homes, 11% were sold under asking, 22% were sold at asking, and 67% were sold over asking.

Days on Market for Gilberts, IL

How long does it take to sell a home in Gilberts, IL?

Average Sale Time

May 2023May 2024CHANGE
17 Days8 Days-52.0%

Summary: Homes in Gilberts had an average of 8 days on market in May 2024, down by 52% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Gilberts are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 9 homes were sold in Gilberts; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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