Gilbert AZ Real Estate Housing Market Report - September 2021
The days on market in Gilbert increased for the third straight month, from 19 in June, to 20 in July, to 22 in August, and now 23 DOM in September. This is the fourth increase in the last five months, but the DOM is still extremely low, and means that homes in Gilbert Arizona are still selling very fast!
The number of new listings continues to fluctuate, decreasing to 433 in September after increasing to 515 in August, and decreasing to 475 in July. This is the lowest number of new listings in September over the last four years, and could be a sign that many home owners have decided to wait to sell their homes as we head into the Fall. At 433, the number of new listings is -17.8% less than the number of new listings in September 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 sits at 756 for September, down from 843 in August, and is the first decrease in new Gilbert listings since May. Active listings in Gilbert still remain lower than last year, and there are still -6.7% fewer homes for sale in Gilbert compared to September of 2020.
The lack of listings continues to drive demand and home prices higher. Median home values in Gilbert have increased an average of 24.1% since September of 2020. With interest rates still hovering around 3.0%, there should be more buyers looking to purchase throughout the remainder of 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.