Here is the most recent Gilbert Real Estate Housing Market Report for March 2021:
The average sales price of homes in Gilbert increased by over $41,000 in March, up to an all-time high of $534,902, and the price per square foot has continued to climb for at least nine straight months, and is now up to $223/sf.
Days on market has dropped for the second straight month to an all-time low of 22 DOM. This is extremely low, and means that homes in Gilbert are selling very fast!
Gilbert home sales increased by almost 100 over last month, but are still lower than in March of last year by -4.8%. Much of this has to do with the lack of homes listed for sale. The number of new listings also increased by over 100 from last month, at 481, but is still down -17.4% from March of last year. This lack of inventory will only help home prices continue their upward trend. The number of active listings, at 628, still remains significantly lower, with -32.2% fewer homes for sale compared to March of 2020.
The lack of listings continues to drive demand and home prices higher. Median home values in Gilbert have increased an average of 25.8% since March of 2020. With interest rates remaining around 3.0%, there still should be more buyers looking to purchase throughout 2021.
Click on the following link to see all current Gilbert Arizona Homes For Sale.
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 se 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.
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"
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.