Is Gilbert, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$570,136
$280/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Gilbert was $570,136 in April 2024, up 0.7% from last year, and the median price per square foot was $280.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $235K | $262.5K | +11.7% |
2 Bedrooms | $420K | $415.6K | -1.0% |
3 Bedrooms | $495K | $490K | -1.0% |
4 Bedrooms | $627.1K | $629.6K | 0.4% |
5+ Bedrooms | $827K | $799.9K | -3.3% |
Summary: Gilbert housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.7%, 2 bedroom homes decreased by 1%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes decreased by 3.3%.
Median Sold Price Compared To Nearby Cities
Mesa | $439.8K | $448.2K | +1.9% |
Chandler | $518.3K | $524.9K | +1.3% |
Gilbert | $565.9K | $570.1K | +0.7% |
Queen Creek | $612.7K | $616K | 0.5% |
Queen Creek | $612.6K | $612.7K | 0.0% |
Housing Supply in Gilbert, AZ
How many homes are available in Gilbert, AZ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1,018 | 1,067 | +4.8% |
Summary: The Gilbert real estate market had 1,067 homes for sale in April 2024, a 4.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 1 | -66.7% |
2 Bedrooms | 76 | 72 | -5.3% |
3 Bedrooms | 364 | 361 | -0.8% |
4 Bedrooms | 379 | 415 | +9.5% |
5+ Bedrooms | 196 | 218 | +11.2% |
Summary: The Gilbert housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes decreased by 5.3%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes increased by 11.2%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
278 | 312 | +12.2% |
Asking Price vs. Sold Price
163 Homes Were Sold
Under Asking
91 Homes Were Sold
At Asking
58 Homes Were Sold
Over Asking
Summary: A total of 312 homes were sold or pending in Gilbert in April 2024, up by 12.2% month-over-month. Of the 312 sold homes, 52% were sold under asking, 29% were sold at asking, and 19% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
71 Days | 49 Days | -30.7% |
Summary: Homes in Gilbert had an average of 49 days on market in Apr 2024, down by 30.7% compared to last year.
Breakdown of Home Sale Times
130 Homes Were Sold
Under 30 Days
139 Homes Were Sold
In 30 - 90 Days
43 Homes Were Sold
Over 90 Days
Summary: During April 2024, 312 homes were sold in Gilbert; 42% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.