top of page

May 2024 Gilbert Housing Market Report

Updated: May 30


image for Gilbert housing market report page

Source for monthly Gilbert Housing Market Report by Realtors serving Gilbert, AZ. Information is power. Facts not fiction from the Arizona Regional Multiple Listing Service (ARMLS).


  Text 602-300-0374






 AT A GLANCE

(Swipe left)

Strong Buyer's Market

Buyer's Market

Balanced

Seller's Market

Strong Seller's Market

On a price per-square foot average (see charts below):

  • Prices are down -$6 from last month, up +$13 from last April but down -$23 from their peak in May '22

  • Last month, sellers received an average of -$7,067 than their asking prices

  • May 2024 began 357 listings, which is 116% of the 3 year average of 307  (from 2021-2023) 

  • April had 278 sales, or 90% of the 3 year average of 310 (from 2021-2023)

  • Gilbert is currently turning over housing inventory once every 1.2 months

  • Bank-owned properties and short sales make up only 0.0% of all Gilbert sales

    

  

Gilbert Housing Market Report Updated for May 2024


To reduce data errors results are based on:

  1. Gilbert SOLD single family residences, patio homes, and townhomes (ask us about condos)

  2. List/sales price under $1,000,000

  3. Size over 1,000 sq ft.

  4. Calendar month



Gilbert sales data below will increase your understanding the local housing market (we have city data archived back to January 2008).


 

 Table Explanation

(Swipe left for full data)

 

Month

Total Active

Total Sold

% Sold

MO. INV.

Sq ft

Price

DOM

$$ sq ft

+/- List Price

May-24

357

 

 

 

 

 

 

 

 

Apr-24

329

278

84.5%

1.2

2,203

$598,920

47

$272

-$7,067

Mar-24

314

253

80.6%

1.2

2,109

$589,436

49

$279

-$7,782

Feb-24

291

210

72.2%

1.4

2,139

$583,938

46

$273

-$7,344

Jan-24

269

161

59.9%

1.7

2,146

$585,885

52

$273

-$6,863











Dec-23

310

153

49.4%

2.0

2,114

$572,930

44

$271

-$9,234

Nov-23

305

172

56.4%

1.8

2,141

$590,566

35

$276

-$6,265

Oct-23

245

214

87.3%

1.1

2,143

$580,701

40

$271

-$5,919

Sep-23

260

189

72.7%

1.4

2,239

$594,121

38

$265

-$6,936

Aug-23

207

249

120.3%

0.8

2,190

$588,794

43

$269

-$5,984

Jul-23

231

237

102.6%

1.0

2,154

$570,683

39

$265

-$2,408

Jun-23

237

243

102.5%

1.0

2,025

$559,858

37

$276

-$5,764

May-23

270

315

116.7%

0.9

2,179

$571,716

61

$262

-$5,774

Apr-23

355

286

80.6%

1.2

2,206

$572,245

75

$259

 

Mar-23

408

319

78.2%

1.3

2,126

$544,877

77

$256

 

Feb-23

497

211

42.5%

2.4

2,123

$540,913

86

$255

 

Jan-23

541

148

27.4%

3.7

2,167

$549,727

79

$254

 











Dec-22

633

181

28.6%

3.5

2,108

$552,856

64

$262

 

Nov-22

753

232

30.8%

3.2

2,137

$555,750

59

$260

 

Oct-22

795

222

27.9%

3.6

2,111

$571,058

52

$271

 

Sep-22

782

298

38.1%

2.6

2,204

$588,715

47

$267

 

Aug-22

774

246

31.8%

3.1

2,137

$599,227

39

$280

 

Jul-22

580

257

44.3%

2.3

2,158

$617,294

27

$286

 

Jun-22

343

343

100.0%

1.0

2,129

$625,323

24

$294

 

May-22

153

346

226.1%

0.4

2,150

$633,629

18

$295

 

Apr-22

90

359

398.9%

0.3

2,144

$617,074

20

$288

 

Mar-22

100

434

434.0%

0.2

2,218

$613,479

23

$277

 

Feb-22

127

363

285.8%

0.3

2,119

$579,625

29

$274

 

Jan-22

168

292

173.8%

0.6

2,082

$552,050

29

$265

 











Dec-21

194

359

185.1%

0.5

2,141

$562,978

28

$263

 

Nov-21

249

412

165.5%

0.6

2,178

$557,152

26

$256

 

Oct-21

264

370

140.2%

0.7

2,202

$549,260

23

$249

 

Sep-21

247

494

200.0%

0.5

2,168

$542,999

23

$250

 

Aug-21

230

402

174.8%

0.6

2,203

$540,408

21

$245

 

Jul-21

165

425

257.6%

0.4

2,230

$542,675

19

$243

 

Jun-21

121

469

387.6%

0.3

2,231

$533,281

17

$239

 

May-21

73

435

595.9%

0.2

2,250

$525,660

16

$234

 

Apr-21

91

448

492.3%

0.2

2,192

$491,417

16

$224

 

Mar-21

111

411

370.3%

0.3

2,344

$502,633

20

$214

 

Feb-21

70

325

464.3%

0.2

2,227

$469,029

22

$211

 

Jan-21

89

297

333.7%

0.3

2,191

$444,711

25

$203

 


 

Table Explanation for Gilbert Housing Market Report

NOTE: we use the term “foreclosure” to describe bank owned homes and short sales because most people are familiar with it. “Distressed Properties” may be more accurate.

  1. Total Active – # of homes for sale at the beginning of the current month

  2. Total Sold – # of homes sold in the current month

  3. % Sold – a ratio of total sold to total active

  4. MO. INV. – based on total sold, how many months it would take to sell the total “active” inventory

  5. Sq ft – average square footage of sold homes

  6. Price – average sales price of sold homes

  7. DOM – Days On Market, or average days to sale

  8. $ sq ft – average price per square foot

  9. +/- List Price – the average dollars received by sellers above or below their average list prices

Comments


Commenting has been turned off.
bottom of page