Is Gilbert, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$566,542
$278/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Gilbert was $566,542 in March 2024, down 0.9% from last year, and the median price per square foot was $278.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $235K | $255K | +8.5% |
2 Bedrooms | $425K | $416K | -2.1% |
3 Bedrooms | $500.9K | $485K | -3.2% |
4 Bedrooms | $632K | $625K | -1.1% |
5+ Bedrooms | $830.2K | $799.5K | -3.7% |
Summary: Gilbert housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.5%, 2 bedroom homes decreased by 2.1%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes decreased by 1.1%, and 5+ bedroom homes decreased by 3.7%.
Median Sold Price Compared To Nearby Cities
Chandler | $520.5K | $522.3K | 0.3% |
Mesa | $444.8K | $445.2K | 0.1% |
Gilbert | $571.5K | $566.5K | -0.9% |
Queen Creek | $617K | $607.4K | -1.6% |
Queen Creek | $617.3K | $602.3K | -2.4% |
Housing Supply in Gilbert, AZ
How many homes are available in Gilbert, AZ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
947 | 979 | +3.4% |
Summary: The Gilbert real estate market had 979 homes for sale in March 2024, a 3.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 63 | 76 | +20.6% |
3 Bedrooms | 345 | 347 | +0.6% |
4 Bedrooms | 350 | 367 | +4.9% |
5+ Bedrooms | 187 | 186 | -0.5% |
Summary: The Gilbert housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 20.6%, 3 bedroom homes increased by 0.6%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes decreased by 0.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
230 | 273 | +18.7% |
Asking Price vs. Sold Price
153 Homes Were Sold
Under Asking
75 Homes Were Sold
At Asking
45 Homes Were Sold
Over Asking
Summary: A total of 273 homes were sold or pending in Gilbert in March 2024, up by 18.7% month-over-month. Of the 273 sold homes, 56% were sold under asking, 27% were sold at asking, and 16% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
79 Days | 54 Days | -32.3% |
Summary: Homes in Gilbert had an average of 54 days on market in Mar 2024, down by 32.3% compared to last year.
Breakdown of Home Sale Times
108 Homes Were Sold
Under 30 Days
114 Homes Were Sold
In 30 - 90 Days
51 Homes Were Sold
Over 90 Days
Summary: During March 2024, 273 homes were sold in Gilbert; 40% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.