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

Housing Market Conditions



Gauge showing Gilbert is a seller'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



Based on all homes sold in the last 12 months.

Difference Since November 2022


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
2 $430K$415K
3 $515.7K$475K
4 $633.6K$617K
5+ $804.8K$775K

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

Queen Creek
Queen Creek

Housing Supply in Gilbert, AZ

How many homes are available in Gilbert, AZ?

Number of Homes For Sale

Oct 2023Nov 2023CHANGE

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
2 7168
3 300286
4 268271
5+ 156156

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

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?