March 2024 Real Estate Update in Gilbert

Gilbert Housing Market Conditions Updated for March 2024

To reduce data errors results are based on:

• Gilbert SOLD single family residences, patio homes, and townhomes (ask us about condos)
• List/sales price under $1,000,000
• Size over 1,000 sq ft.
• Calendar month

Table Explanation

5 YEARS of sales data below will increase your understanding the local housing market (we have city data archived back to January 2008).

Table Explanation

NOTE: we use the term “foreclosure” to describe bank owned homes and short sales because most people are familiar with it. “Distressed Properties” may be more accurate.

• Total Active – # of homes for sale at the beginning of the current month
• Total Sold – # of homes sold in the current month
• % Sold – a ratio of total sold to total active
• MO. INV. – based on total sold, how many months it would take to sell the total “active” inventory
• Sq ft – average square footage of sold homes
• Price – average sales price of sold homes
• DOM – Days On Market, or average days to sale
• $ sq ft – average price per square foot
• +/- List Price – the average dollars received by sellers above or below their average list prices
• Active # Foreclo. – # distressed properties for sale at beginning of month
• % Active Foreclo. – active # distressed properties expressed as a %
• Sold Foreclo. – # distressed properties sold in current month
• % Sold Foreclo. – # distressed properties expressed as a %

About Gilbert Arizona
County: Maricopa
Location: Gilbert
ZIP or Postal Code(s): 85233, 85234, 85295, 85296, 85297, 85298UNBEATABLE QUALITY OF LIFE

Best Place to Live in the U.S., one of America’s Top 20 Thriving Cities, a Top Place in the Nation to Live and Learn, a Best Places for Job Seekers in Arizona, the #1 City in the Nation for Working Parents, Phoenix’s Coolest Suburb, and the 2nd Safest City in the U.S. Gilbert Market Conditions indicate a strong housing market.

SCHOOLS

The Gilbert Public School District has been serving the communities of Gilbert, Chandler and Mesa for over 100 years, delivering academic excellence and a comprehensive range of programs that can’t be matched.All of Gilbert’s 40 schools deliver a well-rounded curriculum with an emphasis on academic study, including art, technology, leadership, physical education, science and so much more.Gilbert is in the close proximity to Arizona State University’s Polytechnic Campus, Chandler Gilbert Community College as well as over 69 other colleges, universities and technical schools within a 30-minute commute. This proximity to universities and technical schools provide unique workforce development opportunities as well as a pipeline of emerging technologies, both of which are crucial to companies looking to expand or relocate.

ADVANTAGEOUS BUSINESS CLIMATE

Gilbert, Arizona also has an advantageous business climate with operating cost that benefit from low total payroll cost, including some of the lowest workers compensation and unemployment insurance in the country. Arizona also offers no sales tax on manufacturing equipment, no inventory tax and is a right to work State. Gilbert Market Conditions are conducive to new home builders.