Is Gilbert, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
Since last year, Gilbert has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
---|---|---|---|
1 Bedroom | $230K | $240K | +4.3% |
2 Bedrooms | $430K | $415K | -3.5% |
3 Bedrooms | $515.7K | $475K | -7.9% |
4 Bedrooms | $633.6K | $617K | -2.6% |
5+ Bedrooms | $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 | $525K | $509K | -3.0% |
Queen Creek | $607.9K | $586.3K | -3.6% |
Gilbert | $574.9K | $550.3K | -4.3% |
Mesa | $452.2K | $431.7K | -4.5% |
Queen Creek | $640K | $585.2K | -8.6% |
Housing Supply in Gilbert, AZ
How many homes are available in Gilbert, AZ?
Number of Homes For Sale
Oct 2023 | Nov 2023 | CHANGE |
---|---|---|
796 | 783 | -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
# BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 71 | 68 | -4.2% |
3 Bedrooms | 300 | 286 | -4.7% |
4 Bedrooms | 268 | 271 | +1.1% |
5+ Bedrooms | 156 | 156 | 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 2023 | Nov 2023 | CHANGE |
---|---|---|
227 | 171 | -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
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 2022 | Nov 2023 | CHANGE |
---|---|---|
58 Days | 41 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
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.