CLICK HERE -> Gilbert Market Overview
With around 891 homes available for sale, the average price is about $810,000, while the median price sits at $620,000. Recently, homes are selling for about $590,000 on average, which is slightly lower than last year, indicating a gentle cooling trend. Moreover, it’s taking a bit longer to sell homes now, with the average days on the market reaching around 73 days. Over the past five years, we’ve seen some significant changes. In 2021, the average home price was about $588,000, and homes were selling much quicker, often in just 27 days. Fast forward to now, and while prices have risen overall, there’s been a noticeable shift with many homes selling below their asking prices—almost half of the homes on the market have had price reductions. This suggests that buyers are becoming more cautious, and sellers may need to be more flexible with their pricing. For buyers, this means there may be opportunities to negotiate better deals, especially with more homes available and longer selling times. Sellers, on the other hand, should be prepared for a more competitive environment and might need to price their homes thoughtfully to attract buyers. Overall, it’s a time of adjustment, but with the right strategy, both buyers and sellers can find success in this market.
