Gilbert – Arizona

Gilbert – Arizona

Along with every other city in the Valley, the housing market in Gilbert is very fluid.  There have been some small downward corrections in prices from last year, however, the market demand continues to outpace supply.   Days on the market are less.  Sellers are staying put in their current homes as interest rates remain high, thereby putting more pressure on the inventory.  New home builders are very busy in Gilbert but cannot keep up to fill demand and thus leading to higher prices.  Land is becoming scarce, and experts estimate Gilbert will reach its maximum population by 2030.  CNN/Money Magazine recently ranked Gilbert at number one as the best place to live in the entire U.S. Gilbert remains a seller’s market as prices continue a slow but trending rise.

MARKET DATA
(Sales Closed from July 1, 2023 to December 31, 2023)
SINGLE-FAMILY HOMES ONLY
MEDIAN PRICE:
$585,000
AVG PRICE:
$664,450
HOMES CLOSED:
1195
AVG  SQ. FT:
2372

Based on information from Arizona Regional MLS for the period

TRENDS

Source: Arizona Multiple Listing System

*It’s important to note that the real estate market can be influenced by many factors, such as economic conditions, interest rates, and local markets. it’s always advisable to contact us for the most up-to-date and specific information.

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