Gilbert AZ Real Estate Housing Market Report - July 2021
The average sales price of Gilbert homes seems to be fluctuating up and down over the last several months. After increasing by over $16,000 in June, the average sales price decreased by over $16,000, back down to $581,105 for July. At the same time, the price per square foot has continued to climb for the 13th month in a row, and is now up to $253/sf.
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 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!
Gilbert home sales decreased from 440 last month to 427 for July, and are -26.8% lower than in July of last year. I believe much of this may have to do with the COVID-19 pandemic slowing down home sales throughout the first part of 2020. By June of last year, the Arizona housing industry was getting back to a more normal state, and you saw a 59.7% jump in Gilbert home sales from 365 in May of 2020 to 583 for July of 2020.
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.
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.
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.
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.
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]
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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.
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