Gilbert AZ Real Estate Housing Market Report - May 2021

By
Real Estate Agent with HomeSmart License # SA577557000
Here is the most recent Gilbert Real Estate Housing Market Report for 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!
 
 
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.
 
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.
Posted by

         Contact Troy Erickson, Realtor®, Good Company Real Estate

Licensed Residential Realtor® in Arizona at 602-295-6807

 

Reach out to me for all your Phoenix, Chandler, Ahwatukee, Tempe, Gilbert, and Scottsdale, Arizona Real Estate needs.

 

Check out our website for all Arizona Real Estate and Homes For Sale in subdivisions like Sun Lakes, Ocotillo, Lakewood, Mountain Park Ranch, Pepperwood, Circle G Ranches, and many others throughout the East Valley.

 

"Real Estate is more than just about a job for me. It is about making a difference in the lives of others. I help people just like you Buy, Sell, and Invest in East Valley Arizona Real Estate!"

        Follow me icon for Twitter        View Troy Erickson's profile on LinkedIn      Troy Erickson Realtor      Troy Erickson on Zillow

***********************************************************************************

Subscribe to my Blog via Email by entering Your Email address here:

Delivered by FeedBurner

 ***********************************************************************************

This post is for informational purposes only and should not be construed as legal advice. If you desire specific legal or tax advice, please consult the appropriate professional. The opinions expressed here represent my own and not those of my employer. Troy Erickson will not be held liable for any errors, ommissions, accuracy, validity, currentness, suitability, completeness; or any losses, injuries or damages arising from its display or use.

Comments (8)

Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Hi Troy,  Thank you for sharing this information about  real estate in Gilbert, AZ.  This sounds like a fantastic place to live.  Buyers and sellers will benefit from your report.

Jun 12, 2021 11:08 AM
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Those looking to buy or sell in Gilbert, AZ would be wise to contact you to get the most up-to-date information on the area. Have a great weekend Troy!

Jun 12, 2021 01:09 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Troy Erickson AZ Realtor (602) 295-6807 this is valuable information for both Buyers and Sellers in your area.

Jun 12, 2021 03:17 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Gilbert home buyers and sellers are sure to value your real estate market report, Troy.

Jun 12, 2021 10:29 PM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Thanks Bob Crane for your kind words. Gilbert, AZ is a newer area that is growing quickly!

Jun 13, 2021 02:27 PM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Thanks Debe Maxwell, CRS! I always try to stay up-to-date on the current housing market in Gilbert and the East Valley. Sharing this information can only help any potential client. Hope your weekend was good Debe!

Jun 13, 2021 02:29 PM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Thanks George Souto! I hope any potential buyer and seller in Gilbert and the East Valley value the information that I share.

Jun 13, 2021 02:30 PM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Appreciate it Myrl Jeffcoat! Sharing what is going on in the local Gilbert and East Valley housing market can only benefit those looking to buy or sell.

Jun 13, 2021 02:32 PM