Is Gilbert, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
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
$560,068
$276/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Gilbert was $560,068 in February 2024, down 3.4% from last year, and the median price per square foot was $276.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $235K | $270K | +14.9% |
2 Bedrooms | $435K | $410K | -5.7% |
3 Bedrooms | $514.6K | $481.8K | -6.4% |
4 Bedrooms | $639.9K | $620.8K | -3.0% |
5+ Bedrooms | $837.6K | $790.9K | -5.6% |
Summary: Gilbert housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.9%, 2 bedroom homes decreased by 5.7%, 3 bedroom homes decreased by 6.4%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes decreased by 5.6%.
Median Sold Price Compared To Nearby Cities
Chandler | $526.6K | $516.8K | -1.9% |
Mesa | $449.9K | $440.3K | -2.2% |
Queen Creek | $613.5K | $600K | -2.2% |
Queen Creek | $615.6K | $599.2K | -2.7% |
Gilbert | $579.6K | $560K | -3.4% |
Housing Supply in Gilbert, AZ
How many homes are available in Gilbert, AZ?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
823 | 895 | +8.7% |
Summary: The Gilbert real estate market had 895 homes for sale in February 2024, a 8.7% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 54 | 59 | +9.3% |
3 Bedrooms | 296 | 326 | +10.1% |
4 Bedrooms | 298 | 332 | +11.4% |
5+ Bedrooms | 173 | 177 | +2.3% |
Summary: The Gilbert housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes increased by 2.3%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
174 | 211 | +21.3% |
Asking Price vs. Sold Price
108 Homes Were Sold
Under Asking
68 Homes Were Sold
At Asking
35 Homes Were Sold
Over Asking
Summary: A total of 211 homes were sold or pending in Gilbert in February 2024, up by 21.3% month-over-month. Of the 211 sold homes, 51% were sold under asking, 32% were sold at asking, and 17% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
86 Days | 49 Days | -43.2% |
Summary: Homes in Gilbert had an average of 49 days on market in Feb 2024, down by 43.2% compared to last year.
Breakdown of Home Sale Times
94 Homes Were Sold
Under 30 Days
78 Homes Were Sold
In 30 - 90 Days
39 Homes Were Sold
Over 90 Days
Summary: During February 2024, 211 homes were sold in Gilbert; 45% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.