The housing market in Gilbert, AZ continues to evolve, offering both opportunities and challenges for buyers and sellers. Here’s what you need to know:
1. Home Prices & Sales Trends
- The median sale price in Gilbert is $567,000, reflecting a 1.2% decrease compared to last year.
- Homes are selling in around 52 days, which is slower than last year’s 40-day average.
- The average sale price per square foot is $287, slightly down from last year.
2. Inventory & Market Activity
- The number of new listings has increased by 45.6% compared to March 2024.
- The median sold price for single-family homes in March 2025 was $615,000, showing a 0.4% increase year-over-year.
- The most expensive home sold in Gilbert in March 2025 was $3.6 million.
3. Buyer & Seller Insights
- Buyers: With more inventory available, buyers have more options, but competition remains steady.
- Sellers: While prices have softened slightly, well-priced homes are still selling within a reasonable timeframe.
- Investors: Gilbert remains a desirable market, with steady appreciation and strong demand.
4. Migration Trends
- 73% of Gilbert homebuyers are looking to stay within the metro area.
- Seattle, Los Angeles, and Dallas are the top cities where people are moving from.
5. Mortgage & Financing Options
- Mortgage rates are expected to average 6.8% for 2025, with a potential dip in the coming months.
- Several low down payment financing options are available for buyers looking to enter the market.
Final Thoughts
Gilbert’s real estate market remains somewhat competitive, with homes selling slightly below list price on average. Whether you’re buying, selling, or investing, staying informed about local trends can help you make the best decisions.
*The information provided in this blog is for educational purposes only and does not constitute financial or legal advice. Mortgage rates and lending guidelines are subject to change. Please contact Bloom Lending LLC for the most up-to-date mortgage options and personalized guidance.
