First Arizona Title's Market Report
Gilbert, AZ
Single-Family Homes
First Arizona Title Agency | (480) 385-6500 | www.FirstAZTitle.com
Gilbert, AZ
Sun Apr 18 2021
This week the median list price for Gilbert, AZ is $510,000 with the market action index hovering around 97. This is an increase over last month's market action index of 91. Inventory has held steady at or around 137.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller’s zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.
Real-Time Market Profile
| Median List Price | $510,000 | |
| Per Square Foot | $227 | |
| Days on Market | 0 | |
| Price Decreased | 7% | |
| Price Increased | 7% | |
| Relisted | 1% | |
| Inventory | 137 | |
| Median Rent | $2,230 | |
| Most Expensive | $3,200,000 | |
| Least Expensive | $295,000 | |
| Market Action | 97 | |
| Strong Seller's Market | ||
Again this week we see a downward notch for prices. Prices continue to pull back from the market’s highs. The Market Action Index is a good leading indicator for the durability of this trend.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $1,099,000 | 4,256 | 0.5 - 1 acre | 5 | 4 | 14 | 14 | 9 | 7 |
| $596,500 | 2,785 | 8,000 - 10,000 sqft | 4 | 3 | 17 | 19 | 14 | 3 |
| $459,950 | 2,136 | 4,500 - 6,500 sqft | 4 | 2 | 16 | 24 | 20 | 0 |
| $385,000 | 1,661 | 0 - 4,500 sqft | 3 | 2 | 19 | 19 | 14 | 7 |