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 February 2023

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

$560,068

$276/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$19,543(-3.4%)

Key Takeaway

Homes in Gilbert have sold for 3.4% less than they did a year ago.

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

# BEDSFeb 2023Feb 2024CHANGE
1 $235K$270K
+14.9%
2 $435K$410K
-5.7%
3 $514.6K$481.8K
-6.4%
4 $639.9K$620.8K
-3.0%
5+ $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
-1.9%
Mesa
-2.2%
Queen Creek
-2.2%
Queen Creek
-2.7%
Gilbert
-3.4%

Housing Supply in Gilbert, AZ

How many homes are available in Gilbert, AZ?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
823895+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

# BEDSJan 2024Feb 2024CHANGE
1 21
-50.0%
2 5459
+9.3%
3 296326
+10.1%
4 298332
+11.4%
5+ 173177
+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 2024Feb 2024CHANGE
174211+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gilbert, you may be able to get a good deal. 51.2% of homes here sold below asking price last month.

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 2023Feb 2024CHANGE
86 Days49 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 18 Days Ago

Newest Listings in Gilbert, AZ

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