Gilbert AZ Real Estate Housing Market Report - July 2021
The days on market in Gilbert slightly increased from 19 last month to 20 DOM for July. This is the second increase in the last three months, but this is still extremely low, and means that homes in Gilbert are selling very fast!
The number of new listings decreased to 475 after jumping up to 527 in June, which is a decrease of -16.8% from July of last year. There is still a lack of inventory based on demand, and that will only help home prices continue their upward trend. The number of active listings, while continuing to increase over the last several months, up to 740 for July, still remains significantly lower than last year. There are still -15.4% fewer homes for sale compared to July of 2020.
The lack of listings continues to drive demand and home prices higher. Median home values in Gilbert have increased an average of 30.8% since July of 2020. With interest rates still hovering around 3.0%, there should be more buyers looking to purchase throughout 2021.
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.
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.