How is the Gilbert housing market doing? Gilbert, Arizona, is a town brimming with potential for homebuyers and investors alike. Nestled amidst the stunning Sonoran Desert, Gilbert offers a vibrant community, excellent schools, and a booming job market, making it a highly sought-after destination. But what truly sets Gilbert apart is its thriving housing market, characterized by steady growth, diverse offerings, and a dynamic atmosphere.
Median Sale Price: A Steady Climb
According to Redfin, the median sale price of a home in Gilbert stood at $564,000 in October 2023, showcasing a 3.5% increase compared to the previous year. This upward trajectory reflects the town’s robust economy and increasing desirability. While the price point might seem higher than some neighboring areas, Gilbert’s prime location, top-rated schools, and abundant amenities justify the premium.
Inventory and Demand: A Balanced Equation
The housing inventory in Gilbert experiences fluctuations throughout the year, but overall, it remains balanced. In October 2023, there were approximately 1,200 active listings, providing potential buyers with a good selection of properties to choose from. This balanced inventory ensures that buyers have options without facing bidding wars or excessive competition.
Days on Market: A Quick Turnaround
Homes in Gilbert typically stay on the market for around 35 days, indicating a healthy level of buyer demand. This swift turnaround time is a testament to the town’s appeal and the confidence buyers have in the local market. For sellers, this translates to quicker sales and less time spent waiting for the right offer.
Competition and Offers: A Seller’s Advantage
While the market leans slightly towards sellers, it’s important to note that it’s not overwhelmingly one-sided. Homes in Gilbert typically receive around two offers on average, creating a competitive environment that benefits sellers while ensuring buyers have a fair shot at securing their dream home.
Diverse Housing Options: Something for Everyone
Gilbert’s housing market caters to a wide range of preferences and budgets. From charming single-family homes and modern townhouses to sprawling estate properties and active adult communities, there’s something for everyone in this desert gem. This diversity ensures that both young families and established professionals can find their perfect fit within the Gilbert community.
Beyond the Numbers: A Vibrant Community
While the statistics paint a compelling picture of Gilbert’s housing market, it’s the town’s vibrant spirit that truly sets it apart. With its numerous parks and outdoor recreation areas, thriving arts scene, and diverse cultural offerings, Gilbert fosters a strong sense of community and belonging. Residents enjoy a variety of events and festivals throughout the year, celebrating the town’s unique character and fostering a strong sense of connection.
Investing in Your Future: Why Gilbert?
For those seeking a stable and promising housing market, coupled with an exceptional quality of life, Gilbert presents a compelling option. With its consistent growth, diverse offerings, and dynamic atmosphere, Gilbert offers a worthwhile investment for both present and future. Whether you’re a young family starting out or a seasoned investor seeking your next big opportunity, Gilbert’s housing market has something to offer you.
So, if you’re searching for a place to call home that boasts a thriving housing market, a vibrant community, and endless possibilities, consider setting your sights on Gilbert, Arizona. This desert gem is sure to exceed your expectations and provide a fulfilling place to live, grow, and invest in your future.
Gilbert Housing Market Predictions 2023-2024
The average Gilbert home value is $566,007, showing a 2.4% decrease over the past year. As of November 30, 2023, homes in Gilbert typically go pending in around 20 days, reflecting the town’s active real estate market. Let’s delve into the detailed statistics provided by Zillow, offering a snapshot of the current state of Gilbert’s housing market.
Key Data Points:
- For sale inventory (November 30, 2023): 653
- New listings (November 30, 2023): 253
- Median sale to list ratio (October 31, 2023): 0.995
- Median sale price (October 31, 2023): $559,983
- Median list price (November 30, 2023): $611,617
- Percent of sales over list price (October 31, 2023): 19.4%
- Percent of sales under list price (October 31, 2023): 52.4%
Is It a Buyer’s or Seller’s Housing Market?
The current data suggests that the Gilbert housing market leans slightly towards sellers. With a median sale to list ratio of 0.995, sellers have a competitive edge, and the percentage of sales over list price at 19.4% indicates favorable conditions for sellers. However, the 52.4% of sales under list price signifies a balanced market, providing opportunities for buyers as well.
Are Home Prices Dropping?
Yes, the average Gilbert home value has decreased by 2.4% over the past year, indicating a decline in home prices. This could be attributed to various factors affecting the real estate market, and potential buyers may find this trend advantageous in their pursuit of a home in Gilbert.
Will the Gilbert Housing Market Crash?
Based on the available data, there is no indication of an imminent housing market crash in Gilbert. While there has been a modest decrease in the average home value by 2.4%, the overall market conditions, including a balanced inventory, quick pending time, and a competitive but stable pricing environment, suggest a resilient housing market in Gilbert.

Is Gilbert a Good Place for Real Estate Investment?
Gilbert, Arizona, presents a compelling case for real estate investment, supported by several factors that make it an attractive destination for prospective investors.
Favorable Economic Environment
Gilbert boasts a strong and diverse economy, driven by a mix of industries including healthcare, education, technology, and manufacturing. The stable economy creates a conducive environment for real estate investment, ensuring a consistent demand for housing and commercial spaces.
Population Growth and Demand
The city has been experiencing a steady population growth due to its quality of life, excellent schools, and employment opportunities. A growing population typically indicates a rising demand for housing, which can lead to appreciation in property values, making it a promising area for real estate investment.
Quality of Life and Amenities
Gilbert is known for offering a high quality of life with safe neighborhoods, excellent schools, recreational facilities, and cultural attractions. These amenities make it an appealing location for families and professionals, enhancing the demand for residential properties.
Infrastructure Development
The city has made significant investments in infrastructure development, including transportation, utilities, and public services. These enhancements contribute to the overall appeal of the area, attracting potential investors and residents alike.
Stability in the Housing Market
While experiencing a modest decrease in home prices recently, Gilbert’s housing market remains relatively stable and resilient. The competitive market, with homes selling quickly and a balanced median sale-to-list ratio, suggests a healthy real estate environment for both buyers and sellers.
Conclusion
Considering its robust economy, population growth, quality of life, infrastructure development, and stability in the housing market, Gilbert, Arizona, appears to be a promising location for real estate investment. However, like any investment decision, thorough research, careful assessment of market trends, and consultation with real estate professionals are essential to make an informed and successful investment.
References:
- https://www.zillow.com/Gilbert-az/home-values/
- https://www.redfin.com/city/6998/AZ/Gilbert/housing-market
- https://www.realtor.com/realestateandhomes-search/Gilbert_AZ/overview