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.