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Gilbert AZ Real Estate Housing Market Report - July 2023

8/16/2023

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Gilbert AZ Real Estate Housing Market Report - July 2023

The average sales price of Gilbert homes increased for the second straight month, going from $631,161 in May to $660,281 in July. Gilbert sales prices have been trending slightly upward so far this year.

The average sold price per square foot increased after barely decreasing last month. The sold price per square foot increased from $274/sf in June to $279/sf this month. The overall trend has been downward since July of 2022. The average sold price per square foot this month is now less than it was in July of 2022 by -$25/sf. This is the 8th month in a row the sold price per square foot has been lower than the same month the previous year, and that had not happened prior to that since before 2020.
 
Gilbert days on market has now decreased for 5 months in a row, going from 87 DOM in February to 39 DOM in July. The Gilbert DOM is lower than it was in July of 2019 and just barely higher than in July of 2020. Homes in Gilbert Arizona are still selling, but not quite at the frenzied pace they were in 2021 and midway through 2022.

Things should start to slow a little in Gilbert now that we are nearing the end of summer and kids will be heading back to school in August. Plus, the increase in mortgage interest rates will continue to keep Gilbert homeowners from listing their homes.
Gilbert AZ homes for sale
After increasing in May and June, home sales in Gilbert have dropped significantly in July, going from 348 last month to 228 in July. This is the third decrease this year, and we should expect to see more as we near the fall months. With this decrease, Gilbert home sales are -13.0% lower than in July of 2022.
 
The number of new listings in Gilbert decreased this month after increasing the previous two months, going from 306 in June to 223 in July. This is the lowest number of Gilbert listings in July over the last 5 years by a lot. The number of new Gilbert listings in July is now -59.9% lower than the number of new listings in July of last year.

Home inventory increased in Gilbert between March and September but has now decreased the last 10 months! Gilbert inventory almost tripled between March and September of 2022, but after declining over the last 10 months, inventory has gone back down from a high of 1,050 in September of 2022 to 444 in July. As inventory has been decreasing this entire year, the number of active listings in Gilbert are now also -59.9% lower than in July of last year.
 

Gilbert listings have almost caught up with demand and the rapid increase in home prices has started to level off due to the rising interest rates. Median home values in Gilbert have decreased an average of -7.6% since July of 2022 as mortgage interest rates have topped 7.0%. This is the 7th month in a row there has been a decrease in home values year-over-year. Prior to the last 7 months there was not a decrease in Gilbert home values in the same month year-over-year since before 2019. The demand for Gilbert housing this summer is lower, but still higher than the inventory of homes for sale.
​
​>>Click Here To See All Current Gilbert Arizona Homes For Sale<<

​For more detailed stats on the 
Gilbert Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Gilbert real estate housing report
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Gilbert AZ
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

Gilbert AZ homes for sale
Real estate in Gilbert AZ for sale
Homes for sale in Gilbert Arizona

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
Gilbert real estate | Troy Erickson Realtor | HomeSmart
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Gilbert AZ Real Estate Housing Market Report - June 2023

7/19/2023

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Gilbert AZ Real Estate Housing Market Report - June 2023

The average sales price of Gilbert homes increased this month after decreasing last month, going from $631,161 in May to $650,339 this month. Gilbert sales prices have been trending slightly upward so far this year.

The average sold price per square foot barely decreased this month even though the average sales price increased. The sold price per square foot decreased from $275/sf in May to $274/sf in June. The overall trend has been downward since July of 2022. The average sold price per square foot this month is now less than it was in June of 2022 by -$36/sf. This is the 7th month in a row the sold price per square foot has been lower than the same month the previous year, and that had not happened prior to that since before 2020.
 
Gilbert days on market has now decreased for 4 months in a row, going from 87 DOM in February to 44 DOM in June. The Gilbert DOM is now very close to where it was in June of 2019 and 2020. Homes in Gilbert Arizona are still selling, but not quite at the frenzied pace they were in 2021 and midway through 2022.

Things should be picking up in Arizona now that it is springtime, but the increase in mortgage interest rates are keeping Gilbert homeowners from listing their homes.
Gilbert AZ homes for sale
After seeing a decrease in Gilbert home sales in April, home sales in Gilbert have increased for two consecutive months, going from 291 in April to 346 in June. Gilbert home sales have now increased in 4 out of the last 5 months. With this increase, Gilbert home sales are still -6.0% lower than in June of 2022. Home sales in Gilbert are pretty close to where they were during this month last year.
 
The number of new listings in Gilbert slightly increased again this month, making this the second increase in a row, going from 285 in April to 306 in June. This is still the lowest number of Gilbert listings in June over the last 5 years by a lot. The number of new Gilbert listings in June is now -50.8% lower than the number of new listings in June of last year.

Home inventory increased in Gilbert between March and September but has now decreased the last 9 months. Gilbert inventory almost tripled between March and September of 2022, but after declining over the last 9 months, inventory has gone back down from a high of 1,050 in September of 2022 to 461 in June. As inventory has been decreasing this entire year, the number of active listings in Gilbert are now -33.6% lower than in June of last year.
 

Gilbert listings have almost caught up with demand and the rapid increase in home prices has started to level off due to the rising interest rates. Median home values in Gilbert have decreased an average of -5.5% since June of 2022 as mortgage interest rates remain around 6.70%. This is the 7th month in a row there has been a decrease in home values year-over-year. Prior to the last 7 months there was not a decrease in Gilbert home values in the same month year-over-year since before 2019. The demand for Gilbert housing this spring is still higher than the inventory of homes for sale.
​
​>>Click Here To See All Current Gilbert Arizona Homes For Sale<<

​For more detailed stats on the 
Gilbert Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Gilbert real estate housing report
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Gilbert AZ
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

Gilbert AZ homes for sale
Real estate in Gilbert AZ for sale
Homes for sale in Gilbert Arizona

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
Gilbert real estate | Troy Erickson Realtor | HomeSmart
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Gilbert AZ Real Estate Housing Market Report - May 2023

6/21/2023

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Gilbert AZ Real Estate Housing Market Report - May 2023

The average sales price of Gilbert homes has decreased this month after increasing the last two months, going from $648,835 in April to $631,196 this month. This is the first time over the last 5 years that Gilbert sales prices in May have decreased.

The average sold price per square foot increased this month even though the average sales price decreased. The sold price per square foot increased from $271/sf in April to $275/sf in May. The overall trend has been downward since July of 2022. The average sold price per square foot this month is now less than it was in May of 2022 by -$30/sf. This is the 6th month in a row the sold price per square foot has been lower than the same month the previous year, and that had not happened prior to that since before 2020.
 
Gilbert days on market has now decreased for 3 months in a row, going from 87 DOM in February to 59 DOM in May. The Gilbert DOM is almost exactly 3 times as high as it was in May of 2022. Homes in Gilbert Arizona are still selling, but not quite at the frenzied pace they were in 2021 and midway through 2022.

Things should be picking up in Arizona now that it is springtime, but the increase in mortgage interest rates are keeping Gilbert homeowners from listing their homes.
Gilbert AZ homes for sale
After seeing a decrease in Gilbert home sales last month, home sales in Gilbert increased this month, going from 291 in April to 316 in May. Gilbert home sales have now increased in 3 out of the last 4 months. With this increase, Gilbert home sales are still -9.7% lower than in May of 2022. May home sales in Gilbert are significantly lower than they have been for this month over the last 5 years, including when we were going through the Covid-19 pandemic.
 
The number of new listings in Gilbert slightly increased this month after slightly decreasing in April, going from 285 last month to 293 in May. This is the lowest number of Gilbert listings in May over the last 5 years. The number of new Gilbert listings in May is now -45.9% lower than the number of new listings in May of last year.

Home inventory increased in Gilbert between March and September but has now decreased the last 8 months. Gilbert inventory almost tripled between March and September of 2022, but after declining over the last 8 months, inventory has gone back down from a high of 1,050 in September of 2022 to 513 in May. Even though inventory is decreasing, the number of active listings in Gilbert are still 1.8% higher than in May of last year.
 

Gilbert listings have caught up with demand and the rapid increase in home prices has now started to level off. Median home values in Gilbert have decreased an average of -10.9% since May of 2022 as mortgage interest rates remain around 6.25%. This is the 6th month in a row there has been a decrease in home values year-over-year. Prior to the last 6 months there was not a decrease in Gilbert home values in the same month year-over-year since before 2019. The demand for Gilbert housing this spring is still higher than the inventory of homes for sale.
​
​>>Click Here To See All Current Gilbert Arizona Homes For Sale<<

​For more detailed stats on the 
Gilbert Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Gilbert real estate housing report
​If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Gilbert AZ
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

Gilbert AZ homes for sale
Real estate in Gilbert AZ for sale
Homes for sale in Gilbert Arizona

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
Gilbert real estate | Troy Erickson Realtor | HomeSmart
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Gilbert AZ Real Estate Housing Market Report - April 2023

5/17/2023

0 Comments

 

Gilbert AZ Real Estate Housing Market Report - April 2023

The average sales price of Gilbert homes has increased for two months in a row, going from $589,315 in February to $648,835 this month. This is the second April in a row that sales prices in Gilbert have increased.

After increasing in March, the average sold price per square foot decreased this month. The sold price per square foot decreased from $273/sf in March to $271/sf in April. The overall trend has been downward since June of 2022. The average sold price per square foot this month is now less than it was in April of 2022 by -$28/sf. This is the 5th month in a row the sold price per square foot has been lower than the same month the previous year, and that had not happened prior to that since before 2020.
 
Gilbert days on market has now decreased for two months in a row, going from 87 DOM in February to 72 DOM in April. The Gilbert DOM is more than 3 times as high as it was in April of 2022. Homes in Gilbert Arizona are still selling, but not quite at the frenzied pace they were in 2021 and midway through 2022.

Things should be picking up in Arizona now that it is springtime, but the increase in mortgage interest rates are keeping Gilbert homeowners from listing their homes.
Gilbert AZ homes for sale
After seeing an increase in Gilbert home sales for two straight months, home sales decreased this month, going from 327 in March to 291 in April. With this decrease, Gilbert home sales are still -1.3% lower than in April of 2022. April home sales in Gilbert are significantly lower than they have been in April over the last 5 years, including when we were going through the Covid-19 pandemic.
 
The number of new listings in Gilbert slightly decreased this month after increasing in March, going from 294 last month to 284 in April. This is the lowest number of Gilbert listings in April over the last 5 years. The number of new Gilbert listings in April is now -38.0% lower than the number of new listings in April of last year.

Home inventory increased in Gilbert between March and September but has now decreased the last 7 months. Gilbert inventory almost tripled between March and September, but after declining over the last 7 months, inventory has gone back down from a high of 1,049 in September of 2022 to 563 in April. Even though inventory is decreasing, the number of active listings in Gilbert are still 43.3% higher than in April of last year.
 

Gilbert listings have caught up with demand and the rapid increase in home prices has now started to level off. Median home values in Gilbert have decreased an average of -8.5% since April of 2022 as mortgage interest rates remain around 6.25%. This is the 4th month in a row there has been a decrease in home values year-over-year. Prior to the last 4 months there was not a decrease in Gilbert home values in the same month year-over-year since before 2019. The demand for Gilbert housing this spring is still higher than the inventory of homes for sale.
​
​>>Click Here To See All Current Gilbert Arizona Homes For Sale<<
​For more detailed stats on the Gilbert Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Gilbert real estate housing report - April 2023
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Gilbert, AZ
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

Gilbert AZ homes for sale
Real estate in Gilbert AZ for sale
Homes for sale in Gilbert Arizona

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
Gilbert real estate | Troy Erickson Realtor | HomeSmart
0 Comments

Gilbert AZ Real Estate Housing Market Report - March 2023

4/16/2023

0 Comments

 

Gilbert AZ Real Estate Housing Market Report - March 2023

The average sales price of Gilbert homes increased in March after decreasing for two months in a row, going from $589,315 in February to $629,295 this month. This is the third February in a row that sales prices in Gilbert have increased. However, this is only the second time sales prices in Gilbert have increased in the last 10 months.

After remaining the same as January last month, the average sold price per square foot of Gilbert homes increased in March. The sold price per square foot increased from $263/sf in February to $273/sf in March but has only increased or remained the same in 5 of the last 10 months. The overall trend is downward as the Gilbert housing market seems to be slowing. The average sold price per square foot this month is now less than it was in March of 2022 by -$16/sf. This is the 4th month in a row the sold price per square foot has been lower than the same month the previous year, and it had not happened prior to that since before 2020. 
 
After increasing for 9 straight months, Gilbert days on market decreased this last month, going from 87 DOM in February to 77 DOM in March. The Gilbert DOM is more than 3 times as high as it was in March of 2022. Homes in Gilbert Arizona are still selling, but not quite at the frenzied pace they were in 2021 and midway through 2022.

Things should be picking up in Arizona now that it is springtime, but the increase in mortgage interest rates are keeping Gilbert homeowners from listing their homes.
Gilbert AZ homes for sale
Gilbert home sales saw an increase for the second straight month, going from 150 in January to 326 in March. With this increase, Gilbert home sales are still -26.6% lower than in March of 2022. March home sales in Gilbert are significantly lower than they have been in March over the last 5 years, including when we were going through the Covid-19 pandemic.
 
The number of new listings in Gilbert increased this month after decreasing in February, going from 261 last month to 294 in March. This is still the lowest number of Gilbert listings in March over the last 5 years. The number of new Gilbert listings in March is now -34.1% lower than the number of new listings in March of last year.

Home inventory increased in Gilbert between March and September but has now decreased the last 6 months. Gilbert inventory almost tripled between March and September, but after declining over the last 6 months, inventory has gone back down from a high of 1,049 in September of 2022 to 599 in March. Even though inventory is decreasing, the number of active listings in Gilbert are still 67.9% higher than in March of last year.
 

Gilbert listings have caught up with demand and the rapid increase in home prices has now started to level off. Median home values in Gilbert have decreased an average of -10.7% since March of 2022 as mortgage interest rates remain around 6.25%. This is the 3rd month in a row there has been a decrease in home values year-over-year. Prior to the last 3 months there was not a decrease in Gilbert home values in the same month year-over-year since before 2019. The demand for Gilbert housing this spring is still higher than the inventory of homes for sale.
​
​>>Click Here To See All Current Gilbert Arizona Homes For Sale<<

​For more detailed stats on the 
Gilbert Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Gilbert real estate housing report - March 2023
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Gilbert AZ
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

Gilbert AZ homes for sale
Real estate in Gilbert AZ for sale
Homes for sale in Gilbert Arizona

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
Gilbert Real Estate
0 Comments

Gilbert AZ Real Estate Housing Market Report - February 2023

3/23/2023

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Gilbert AZ Real Estate Housing Market Report - February 2023

The average sales price of Gilbert homes decreased for the second month in a row, after slightly increasing to end 2022, going from $620,705 in December to $588,495 in February. This is the first February that sales prices in Gilbert have decreased since February of 2019. Sales prices in Gilbert have declined in 8 out of the last 9 months.

After decreasing last month, the average sold price per square foot of Gilbert homes remained the same between January and February, at $263/sf. The sold price per square foot has decreased or remained the same in 6 of the last 8 months. The overall trend is downward as the Gilbert housing market seems to be slowing. The average sold price per square foot this month is now less than it was in February of 2022 by -$23/sf. This is the third month in a row this has happened, and it had not happened prior to that since before 2020. 
 
After decreasing for 3 straight months, Gilbert days on market has now increased for 9 months in a row, going from 20 DOM last May to 87 DOM in February. The Gilbert DOM has almost quadrupled in that time. Homes in Gilbert Arizona are still selling, but not quite at the frenzied pace they were in 2021 and midway through 2022.

Things should be picking up in Arizona as we near spring, but home values are trending downward, and the increase in mortgage interest rates are both contributing to the slowdown in the Gilbert housing market.
Gilbert AZ homes for sale
Gilbert home sales saw an increase this month, going from 150 in January to 218 in February. With this increase, Gilbert home sales are still -37.7% lower than in February of 2022. February home sales in Gilbert are significantly lower than they have been in February over the last 5 years, including when we were going through the Covid-19 pandemic.
 
The number of new listings in Gilbert decreased this month after increasing in January, going from 294 last month to 259 in February. This is the lowest number of Gilbert listings in February over the last 5 years. The number of new Gilbert listings in February is now -30.4% lower than the number of new listings in February of last year.

Home inventory increased in Gilbert between March and September but has now decreased the last 5 months. Gilbert inventory almost tripled between March and September, but after declining over the last 5 months, inventory has gone back down from a high of 1,046 in September to 655 in February. Home prices have been dropping and interest rates are rising, causing fewer homeowners to list their homes. Even though inventory is decreasing, the number of active listings in Gilbert are still 71.9% higher than in February of last year.
 

Gilbert listings have caught up with demand and the rapid increase in home prices has now started to decline. Median home values in Gilbert have decreased an average of -8.3% since February of 2022 as mortgage interest rates remain just below 7.0%. This is the second decrease in home values year-over-year since before 2019. The Gilbert housing market is slowing as we enter the spring, so we will have to wait and see if the Arizona housing market picks up.
​
​>>Click Here To See All Current Gilbert Arizona Homes For Sale<<
​
​For more detailed stats on the 
Gilbert Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Gilbert real estate housing report
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Gilbert, AZ
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

Gilbert AZ homes for sale
Real estate in Gilbert AZ for sale
Homes for sale in Gilbert Arizona

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
Gilbert real estate
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Gilbert AZ Real Estate Housing Market Report - January 2023

2/15/2023

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Gilbert AZ Real Estate Housing Market Report - January 2023

The average sales price of Gilbert homes decreased to start the new year, after slightly increasing to end 2022, going from $620,705 in December to $589,456 in January. This is the second January in a row that sales prices in Gilbert have decreased. Sales prices in Gilbert have declined in 6 out of the last 7 months.

After increasing last month, the average sold price per square foot of Gilbert homes slightly decreased in January, going from $274/sf in December to $263/sf to begin the new year. The sold price per square foot has decreased in 5 of the last 7 months. The overall trend is downward as the Gilbert housing market seems to be slowing. The average sold price per square foot this month is now less than it was in January of 2022 by -$11/sf. This is the second month in a row this has happened, and it had not happened prior to that before 2020. 
 
After decreasing for 3 straight months, Gilbert days on market has now increased for 8 months in a row, going from 20 DOM last May to 79 DOM in January. The Gilbert DOM has almost quadrupled in that time. Homes in Gilbert Arizona are still selling, but not quite at the frenzied pace they were in 2021 and midway through 2022.

This is the slowest time of season for the housing market in Arizona, but the home value increases from 2020 through the first half of 2022, plus the greater inventory of homes for sale, and the increase in mortgage interest rates have also contributed to the slowdown in the Gilbert housing market.
Gilbert AZ homes for sale
Gilbert home sales saw a decrease for the second straight month, going from 177 in December to 150 in January. With this decrease, Gilbert home sales are -47.0% lower than in January of 2022. This is the slowest time of year for home sales. January home sales in Gilbert are significantly lower than they have been in January of the last 5 years, including when we were going through the Covid-19 pandemic.
 
The number of new listings in Gilbert shot up to start the new year after decreasing the previous six months, going from 144 in December to 290 in January. Even with this increase, this is the lowest number of Gilbert listings in January over the last 5 years. The number of new Gilbert listings in January is now -26.0% lower than the number of new listings in January of last year.

Home inventory increased in Gilbert between March and September but has decreased the last 4 months. Gilbert inventory almost tripled between March and September, but after declining over the last 4 months has gone back down from a high of 1,046 in September to 678 in January. Home sales have slowed, and home prices have been dropping, causing fewer homeowners to list their homes. The number of active listings in Gilbert are 77.5% higher than in January of last year.
 

Gilbert listings have caught up with demand and the rapid increase in home prices has now started to decline. Median home values in Gilbert have decreased an average of -1.1% since January of 2022 as mortgage interest rates remain just below 6.5%. This is the first decrease in home values since before 2019. The Gilbert housing market is slowing as we begin 2023, which is typically the slowest time of the year for the housing market in Arizona.
​
​>>Click Here To See All Current Gilbert Arizona Homes For Sale<<

​For more detailed stats on the 
Gilbert Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Gilbert real estate housing report
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Gilbert AZ
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

Homes for sale in Gilbert AZ
Gilbert real estate for sale
Gilbert Arizona homes for sale

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
Homes for sale in Gilbert
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Gilbert AZ Real Estate Housing Market Report - December 2022

1/7/2023

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Gilbert AZ Real Estate Housing Market Report - December 2022

The average sales price of Gilbert homes has increased after decreasing for six straight months, going from $620,532 in November to $622,718 for December. This is the third December in a row that sales prices in Gilbert have increased, but I think that the days of home price increases each month are over for a while. Sales prices just tend to increase every December, but the overall trend is downward.

After decreasing last month, the average sold price per square foot of Gilbert homes slightly increased in December, going from $273/sf in November to $274/sf in December. The overall trend over the last six months is still downward, as the Gilbert housing market seems to be slowing. The average sold price per square foot this month is now less than it was in December of 2021. This is the first time this has happened since at least before 2020. 
 
After decreasing for 3 straight months, Gilbert days on market has now increased for seven months in a row, going from 20 DOM in May to 65 DOM in December. The Gilbert DOM has more than tripled in that time. Homes in Gilbert Arizona are still selling, but not quite at the frenzied pace they were earlier in the year, and throughout 2021.

This is the slowest time of season for the housing market in Arizona, but the home value increases from 2020 through the first half of 2022, plus the increased inventory of homes for sale and the increase in mortgage interest rates have also contributed to the slowdown in the Gilbert housing market.

Gilbert AZ homes for sale | Troy Erickson Realtor
After a surprising increase last month, Gilbert home sales saw a decrease in December, going from 241 in November to 178 this month. With this increase, Gilbert home sales are -49.4% lower than in December of 2021. This is the time of year when home sales typically start to decrease as we head into the new year. December home sales in Gilbert are significantly lower than they were in December of the last four years, including when we were going through the Covid-19 pandemic.
 
The number of new listings in Gilbert has now decreased the last six months after increasing for four straight months, going from 622 in June to 144 in December. With this decrease, it is the lowest number of Gilbert listings over the last 5 years. The number of new Gilbert listings in December is now -49.5% lower than the number of new listings in December of last year.

Home inventory has been rising in Gilbert since March but has decreased in the last three months. Gilbert inventory has more than doubled since the inventory of 353 in March, even with the decline over the last 3 months. Home sales have slowed, and home prices have been dropping, causing fewer homeowners to list their homes. The number of active listings sits at 731 for December. Active listings are now 85.5% higher than in December of last year.
 

Gilbert listings have caught up with demand and the rapid increase in home prices has now started to decline. Median home values in Gilbert have increased an average of just 1.7% since December of 2021 as mortgage interest rates remain around 6.5%. The Gilbert housing market is slowing as we head into the new year, which always signifies a slowdown in the housing market in Arizona.
​
​>>Click Here To See All Current Gilbert Arizona Homes For Sale<<

​For more detailed stats on the 
Gilbert Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Gilbert real estate housing report - December 2022
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Gilbert, AZ | Troy Erickson Realtor
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

Gilbert AZ homes for sale
Real estate in Gilbert AZ for sale
Homes for sale in Gilbert Arizona

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
Gilbert real estate | Troy Erickson Realtor | HomeSmart
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Gilbert AZ Real Estate Housing Market Report - November 2022

12/9/2022

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Gilbert AZ Real Estate Housing Market Report - November 2022

The average sales price of Gilbert homes has decreased for the sixth straight month after increasing for four months in a row, going from $719,659 in May to $619,786 for November. I think that the days of home price increases each month are over for a while.

After slightly increasing last month, the average sold price per square foot of Gilbert homes decreased in November, going from $282/sf in October to $273/sf in November. The trend over the last five months is downward, as the Gilbert housing market seems to be slowing.
 
After decreasing for 3 straight months, Gilbert days on market has now increased six months in a row, going from 20 DOM in May to 58 DOM in November. The Gilbert DOM has almost tripled in a few months. Homes in Gilbert Arizona are still selling, but not quite at the frenzied pace they were earlier in the year, and throughout 2021.
Gilbert AZ homes for sale | Troy Erickson Realtor
After decreasing last month, Gilbert home sales saw a surprising increase in November, going from 220 in October to 239 this month. With this increase, Gilbert home sales are -43.8% lower than in November of 2021. This is the time of year when home sales typically start to decrease as we head into the slower winter season, so this increase is unexpected. Even with the increase, November home sales in Gilbert are significantly lower than they were in November of the last four years, including when we were going through the Covid-19 pandemic.
 
The number of new listings in Gilbert has now decreased the last five months after increasing for four straight months, going from 622 in June to 201 in November. With this decrease it is the lowest number of Gilbert listings over the last 4 years. The number of new Gilbert listings in November is now -38.9% lower than the number of new listings in November of last year.

Home inventory has been rising in Gilbert since March but has decreased in the last two months. Gilbert inventory has more than doubled since March even with the decline, as home sales have slowed, and home prices have been dropping. The number of active listings sits at 906 for November, which is a slight decrease from October (1,031). Active listings are now 81.6% higher than in November of last year.
 

Gilbert listings have caught up with demand and the rapid increase in home prices has now started to decline. Median home values in Gilbert have increased an average of 1.6% since November of 2021 as mortgage interest rates remain just above 6.5%. The Gilbert housing market is slowing as we head into the winter, which always signifies a slowdown in the housing market in Arizona.
​
​>>Click Here To See All Current Gilbert Arizona Homes For Sale<<

​For more detailed stats on the Gilbert Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Gilbert real estate housing report - November 2022
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.

If you're thinking of selling, many buyers will be eager to find a home just like yours due to the low inventory of available homes for sale. Reach out to me today to make sure you can get your house in on the action.
​​
If you're thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Gilbert, AZ | Troy Erickson Realtor
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

Gilbert AZ Homes For Sale
Real estate in Gilbert AZ for sale
Homes for sale in Gilbert Arizona

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
Gilbert real estate | Troy Erickson Realtor | HomeSmart
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Gilbert AZ Real Estate Housing Market Report - October 2022

11/16/2022

0 Comments

 

Gilbert AZ Real Estate Housing Market Report - October 2022

The average sales price of Gilbert homes has decreased for the fifth straight month after increasing for four months in a row, going from $719,659 in May to $642,048 for October. I think that the days of home price increases each month are over for a while.

After decreasing for three straight months, the average sold price per square foot of Gilbert homes has increased in October, going from $281/sf in September to $282/sf in October. This is certainly not a significant increase, and the trend over the last four months is still downward, as the Gilbert housing market seems to be slowing.
 
After decreasing for 3 straight months, Gilbert days on market has now increased five months in a row, going from 20 DOM in May to 53 DOM in October. The Gilbert DOM has more than doubled in a few months, which means that homes in Gilbert Arizona are still selling, but not quite at the frenzied pace they were earlier in the year, and throughout 2021.
Gilbert AZ homes for sale | Troy Erickson Realtor
After increasing last month, Gilbert home sales saw a decrease in October, going from 297 in September to 219 this month. With this decrease, Gilbert home sales are -39.7% lower than in October of 2021. This is the time of year when home sales typically start to decrease as we head into the slower fall season, so this decrease is somewhat expected. However, October home sales in Gilbert are significantly lower than they were in October of the last four years, including when we were going through the Covid-19 pandemic.
 
The number of new listings in Gilbert has now decreased the last four months after increasing for four straight months, going from 622 in June to 320 in October. With this decrease it is the lowest number of Gilbert listings in October over the last 4 years. The number of new Gilbert listings in October is now -29.4% lower than the number of new listings in October of last year.

Home inventory in Gilbert seems to be catching up with demand, and that has helped home prices slow down their rapid climb over the last two years. The number of active listings sits at 1,027 for October, which is a slight decrease from September (1,042). Active listings are now exactly 93.8% higher than in October of last year.
 

Gilbert listings have caught up with demand and the rapid increase in home prices has slowed. Median home values in Gilbert have increased an average of 4.2% since October of 2021 as mortgage interest rates continue to increase over 7.0%. The Gilbert housing market is slowing as we head into the winter, which always signifies a slowdown in the housing market in Arizona.
​
​>>Click Here To See All Current Gilbert Arizona Homes For Sale<<
​
​For more detailed stats on the 
Gilbert Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Gilbert real estate housing report - October 2022
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.

If you're thinking of selling, many buyers will be eager to find a home just like yours due to the low inventory of available homes for sale. Reach out to me today to make sure you can get your house in on the action.
​​
If you're thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Gilbert, AZ | Troy Erickson Realtor
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]

Gilbert AZ homes for sale
Real estate in Gilbert AZ for sale
Homes for sale in Gilbert Arizona

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
Gilbert real estate | Troy Erickson Realtor | HomeSmart
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    Chandler and East Valley Blog: Troy Erickson Realtor

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     "Real Estate is not just a job for me, it's about making a difference in the lives of others."​

    Troy has been blogging about Chandler and East Valley Real Estate in Arizona since 2006.  He stays current on local Chandler real estate by attending educational classes, and talking with title companies, home inspectors, lenders, members of the Chandler community, as well as constantly working with home buyers, home sellers, and investors within the Chandler and East Valley community.

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Troy and Mia are your Chandler Arizona Real Estate Connection - an experienced team with Diverse Solutions Realty. Troy is a licensed Realtor in the state of Arizona.
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