Gilbert AZ Real Estate Housing Market Report - May 2021
After decreasing for three straight months, days on market in Gilbert increased in May from 16 up to 19 DOM. This is still extremely low, and means that homes in Gilbert are selling very fast!
The number of new listings dropped from 486 last month to 453 in May, which is also a decrease of -7.6% from May 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, at 654, still remains significantly lower than last year, with -34.4% fewer homes for sale compared to May of 2020.
The lack of listings continues to drive demand and home prices higher. Median home values in Gilbert have increased an average of 37.2% since May of 2020. With interest rates remaining around 3.0%, there still 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.