Is Gilbert, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Gilbert was a Buyer'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, MN
How much do homes in Gilbert, MN cost?
Median Sold Price
$189,900
$112/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Gilbert have sold for 16% less than they did a month ago.
Summary: The median home sold price in Gilbert was $189,900 in April 2024, down 16% from last month, and the median price per square foot was $112.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $226K | $517.4K | +129.0% |
| 4 Bedrooms | - | $189.8K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Gilbert housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 129%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Virginia | $73.5K | $183.6K | +149.9% |
| Gilbert | $226K | $189.9K | -16.0% |
| Biwabik Township | $173.7K | $132K | -24.0% |
Housing Supply in Gilbert, MN
How many homes are available in Gilbert, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 17 | +6.3% |
Summary: The Gilbert real estate market had 17 homes for sale in April 2024, a 6.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 11 | 13 | +18.2% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Gilbert housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 18.2%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Gilbert, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Gilbert in April 2024, up by 150.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Gilbert, MN
How long does it take to sell a home in Gilbert, MN?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 207 Days | 182 Days | -11.9% |
Summary: Homes in Gilbert had an average of 182 days on market in Apr 2024, down by 11.9% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Gilbert are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 5 homes were sold in Gilbert; 0% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 80% of homes were sold over 90 days.
