Gilbert AZ Real Estate Housing Market Report - June 2021

By
Real Estate Agent with HomeSmart License # SA577557000
Here is the most recent Gilbert Real Estate Housing Market Report for June 2021:
 
After dropping $8,808 last month, The average sales price of Gilbert homes increased for the second straight month, this time by over $16,000, reaching a new all-time high of $597,946 for June. At the same time, the price per square foot has continued to climb for the 12th month in a row, and is now up to $249/sf.
 
After increasing last month from 16 to 19, the days on market in Gilbert remained at 19 for June. This is still extremely low, and means that homes in Gilbert are selling very fast!
 
 
Gilbert home sales increased from 440 last month to 459 for June. However, home sales in Gilbert are -17.6% lower than in June of last year. 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 the first part of 2020. By June of last year, the Arizona housing industry was getting back to a more normal state, and you saw a 52.6% jump in Gilbert home sales, from 365 in May of 2020 to 557 for June of 2020.
 
The number of new listings increased to 493 after dropping to 463 in May, which is only a -0.4% difference from June 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, while increasing from 654 last month to 688 in June, still remains significantly lower than last year. There are still -24.7% fewer homes for sale compared to June of 2020.
 
The lack of listings continues to drive demand and home prices higher. Median home values in Gilbert have increased an average of 40.3% since June of 2020. With interest rates still hovering around 3.0%, there 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 Gilbert and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
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         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!"

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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 (4)

Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

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

Jul 06, 2021 04:48 PM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Thanks Myrl Jeffcoat! It's certainly a sellers market, and we need more sellers right now. Buyers are struggling to find homes.

Jul 07, 2021 02:04 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Is it me or we have not connected in a while? Were you away from the platform or we were just running in parallel times? Endre

Jul 10, 2021 10:45 PM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Hey Endre Barath, Jr., I've been in and out of AR recently, but am trying to be much more consistent with my housing reports lately. Obviously with the market the way it has been, we have both been very busy. As always, thanks for stopping by my post!

Jul 16, 2021 12:23 PM