Is Gilbert, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$575,500
$285/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Gilbert was $575,500 in June 2024, up 4.6% from last year, and the median price per square foot was $285.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $235K | $255K | +8.5% |
2 Bedrooms | $402K | $421.9K | +5.0% |
3 Bedrooms | $480K | $491.8K | +2.5% |
4 Bedrooms | $613.9K | $644K | +4.9% |
5+ Bedrooms | $777K | $825K | +6.2% |
Summary: Gilbert housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.5%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 2.5%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 6.2%.
Median Sold Price Compared To Nearby Cities
Chandler | $506.2K | $535K | +5.7% |
Queen Creek | $601K | $629.9K | +4.8% |
Gilbert | $550.1K | $575.5K | +4.6% |
Mesa | $430.2K | $449.9K | +4.6% |
Queen Creek | $599.9K | $615.1K | +2.5% |
Housing Supply in Gilbert, AZ
How many homes are available in Gilbert, AZ?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
1,148 | 1,106 | -3.7% |
Summary: The Gilbert real estate market had 1,106 homes for sale in June 2024, a 3.7% decrease compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 72 | 63 | -12.5% |
3 Bedrooms | 410 | 375 | -8.5% |
4 Bedrooms | 417 | 412 | -1.2% |
5+ Bedrooms | 248 | 255 | +2.8% |
Summary: The Gilbert housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 12.5%, 3 bedroom homes decreased by 8.5%, 4 bedroom homes decreased by 1.2%, and 5+ bedroom homes increased by 2.8%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
315 | 298 | -5.4% |
Asking Price vs. Sold Price
155 Homes Were Sold
Under Asking
97 Homes Were Sold
At Asking
46 Homes Were Sold
Over Asking
Summary: A total of 298 homes were sold or pending in Gilbert in June 2024, down by 5.4% month-over-month. Of the 298 sold homes, 52% were sold under asking, 33% were sold at asking, and 15% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
46 Days | 47 Days | +1.6% |
Summary: Homes in Gilbert had an average of 47 days on market in Jun 2024, up by 1.6% compared to last year.
Breakdown of Home Sale Times
113 Homes Were Sold
Under 30 Days
141 Homes Were Sold
In 30 - 90 Days
44 Homes Were Sold
Over 90 Days
Summary: During June 2024, 298 homes were sold in Gilbert; 38% of homes were sold within 30 days, 47% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.