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 4 Days Ago

Newest Listings in Gilbert, AZ

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