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 November 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

$586,666

$287/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$36,581(+6.7%)

Key Takeaway

Homes in Gilbert have sold for 6.7% more than they did a year ago.

Summary: The median home sold price in Gilbert was $586,666 in November 2024, up 6.7% from last year, and the median price per square foot was $287.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $240K$255K
+6.3%
2 $411.6K$412K
0.1%
3 $475K$499.8K
+5.2%
4 $616.6K$649.8K
+5.4%
5+ $773.4K$836.5K
+8.2%

Summary: Gilbert housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.3%, 2 bedroom homes increased by 0.1%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 8.2%.

Median Sold Price Compared To Nearby Cities

Queen Creek
+9.3%
Gilbert
+6.7%
Chandler
+4.9%
Mesa
+4.5%
Queen Creek
+2.8%

Housing Supply in Gilbert, AZ

How many homes are available in Gilbert, AZ?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1,0791,046-3.1%

Summary: The Gilbert real estate market had 1,046 homes for sale in November 2024, a 3.1% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 7674
-2.6%
3 379349
-7.9%
4 382384
0.5%
5+ 241238
-1.2%

Summary: The Gilbert housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 2.6%, 3 bedroom homes decreased by 7.9%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes decreased by 1.2%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
237207-12.7%

Asking Price vs. Sold Price

133 Homes Were Sold
Under Asking

46 Homes Were Sold
At Asking

28 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. 64.3% of homes here sold below asking price last month.

Summary: A total of 207 homes were sold or pending in Gilbert in November 2024, down by 12.7% month-over-month. Of the 207 sold homes, 64% were sold under asking, 22% were sold at asking, and 14% 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

Nov 2023Nov 2024CHANGE
41 Days61 Days+48.0%

Summary: Homes in Gilbert had an average of 61 days on market in Nov 2024, up by 48% compared to last year.

Breakdown of Home Sale Times

61 Homes Were Sold
Under 30 Days

96 Homes Were Sold
In 30 - 90 Days

50 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Gilbert has remained consistent over time.

Summary: During November 2024, 207 homes were sold in Gilbert; 29% of homes were sold within 30 days, 46% of homes were sold within 30 to 90 days, and 24% 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 22 Days Ago

Newest Listings in Gilbert, AZ

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