Is Gilbert, AZ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Gilbert is a seller's market

Buyer's
Market

Difference Since November 2022

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

Key Takeaway

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

Housing Prices in Gilbert, AZ

How much do homes in Gilbert, AZ cost?

Median Sold Price

$550,362

$273/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2022

-$24,629(-4.3%)

Key Takeaway

Homes in Gilbert have sold for 4.3% less than they did a year ago.

Summary: The median home sold price in Gilbert was $550,362 in November 2023, down 4.3% from last year, and the median price per square foot was $273.

Median Sold Price By Bedroom Count

# BEDSNov 2022Nov 2023CHANGE
1 $230K$240K
+4.3%
2 $430K$415K
-3.5%
3 $515.7K$475K
-7.9%
4 $633.6K$617K
-2.6%
5+ $804.8K$775K
-3.7%

Summary: Gilbert housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 4.3%, 2 bedroom homes decreased by 3.5%, 3 bedroom homes decreased by 7.9%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes decreased by 3.7%.

Median Sold Price Compared To Nearby Cities

Chandler
-3.0%
Queen Creek
-3.6%
Gilbert
-4.3%
Mesa
-4.5%
Queen Creek
-8.6%

Housing Supply in Gilbert, AZ

How many homes are available in Gilbert, AZ?

Number of Homes For Sale

Oct 2023Nov 2023CHANGE
796783-1.6%

Summary: The Gilbert real estate market had 783 homes for sale in November 2023, a 1.6% decrease compared to October 2023.

Homes For Sale By Bedroom Count

# BEDSOct 2023Nov 2023CHANGE
1 12
+100.0%
2 7168
-4.2%
3 300286
-4.7%
4 268271
+1.1%
5+ 156156
0.0%

Summary: The Gilbert housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 4.2%, 3 bedroom homes decreased by 4.7%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2023Nov 2023CHANGE
227171-24.7%

Asking Price vs. Sold Price

89 Homes Were Sold
Under Asking

48 Homes Were Sold
At Asking

34 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gilbert, you may be able to get a good deal. 52% of homes here sold below asking price last month.

Summary: A total of 171 homes were sold or pending in Gilbert in November 2023, down by 24.7% month-over-month. Of the 171 sold homes, 52% were sold under asking, 28% were sold at asking, and 20% were sold over asking.

Days on Market for Gilbert, AZ

How long does it take to sell a home in Gilbert, AZ?

Average Sale Time

Nov 2022Nov 2023CHANGE
58 Days41 Days-30.2%

Summary: Homes in Gilbert had an average of 41 days on market in Nov 2023, down by 30.2% compared to last year.

Breakdown of Home Sale Times

87 Homes Were Sold
Under 30 Days

70 Homes Were Sold
In 30 - 90 Days

14 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2023, 171 homes were sold in Gilbert; 51% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 8% 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 2 Days Ago

Newest Listings in Gilbert, AZ

Nearby Markets to Gilbert, AZ

What housing markets are near Gilbert, AZ?