Gilbert AZ Real Estate Housing Market Report - May 2021
After dropping $8,808 last month, the average sales price of Gilbert homes increased by $54,398 to a new all-time high of $581,302 for May. At the same time, the price per square foot has continued to climb for the 11th month in a row, and is now up to $243/sf.
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!
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!
Gilbert home sales reached 440 in May, which was about the same as last month. However, home sales in Gilbert are higher than in May of last year by 12.8%. I believe much of this may have to do with the COVID-19 pandemic, and home owners holding off on listing their homes for sale throughout 2020.
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.
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.
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]
 |  |  |
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.
RSS Feed
