Is Gilbert, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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
$574,998
$283/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Gilbert have sold for 3.2% more than they did a year ago.
Summary: The median home sold price in Gilbert was $574,998 in May 2024, up 3.2% from last year, and the median price per square foot was $283.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $235K | $262.5K | +11.7% |
| 2 Bedrooms | $410K | $418.9K | +2.2% |
| 3 Bedrooms | $487.4K | $491.5K | +0.8% |
| 4 Bedrooms | $618.9K | $635.1K | +2.6% |
| 5+ Bedrooms | $800K | $806.6K | +0.8% |
Summary: Gilbert housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.7%, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 0.8%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 0.8%.
Median Sold Price Compared To Nearby Cities
| Chandler | $510K | $529.9K | +3.9% |
| Mesa | $434.7K | $449.9K | +3.5% |
| Gilbert | $556.9K | $574.9K | +3.2% |
| Queen Creek | $607.5K | $619.8K | +2.0% |
| Queen Creek | $604.1K | $614.4K | +1.7% |
Housing Supply in Gilbert, AZ
How many homes are available in Gilbert, AZ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1,106 | 1,109 | 0.3% |
Summary: The Gilbert real estate market had 1,109 homes for sale in May 2024, a 0.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 75 | 71 | -5.3% |
| 3 Bedrooms | 373 | 389 | +4.3% |
| 4 Bedrooms | 431 | 414 | -3.9% |
| 5+ Bedrooms | 226 | 234 | +3.5% |
Summary: The Gilbert housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 5.3%, 3 bedroom homes increased by 4.3%, 4 bedroom homes decreased by 3.9%, and 5+ bedroom homes increased by 3.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 313 | 316 | +1.0% |
Asking Price vs. Sold Price
162 Homes Were Sold
Under Asking
101 Homes Were Sold
At Asking
53 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gilbert, you may be able to get a good deal. 51.3% of homes here sold below asking price last month.
Summary: A total of 316 homes were sold or pending in Gilbert in May 2024, up by 1.0% month-over-month. Of the 316 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 60 Days | 48 Days | -20.0% |
Summary: Homes in Gilbert had an average of 48 days on market in May 2024, down by 20% compared to last year.
Breakdown of Home Sale Times
130 Homes Were Sold
Under 30 Days
143 Homes Were Sold
In 30 - 90 Days
43 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Gilbert has remained consistent over time.
Summary: During May 2024, 316 homes were sold in Gilbert; 41% 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.
The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Arizona Regional Multiple Listing Service, Inc. Indicates a property listed by a real estate brokerage other than Rocket Homes Real Estate, LLC. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Arizona Regional Multiple Listing Service, Inc. do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Information deemed reliable but not guaranteed. Copyright© 2024 Arizona Regional Multiple Listing Service, Inc. All Rights Reserved.
The data relating to real estate listings on this website comes in part from the Internet Data Exchange (IDX) program of Multiple Listing Service of Southern Arizona. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listings provided by brokerages other than this broker are identified with the MLSSAZ IDX Logo. All Information Is Deemed Reliable But Is Not Guaranteed Accurate. Listing information Copyright 2024 MLS of Southern Arizona. All Rights Reserved.