Gilbert Condos Market Overview
Gilbert Condos Market Highlights
As of May 5, 2025, the condos/townhomes/patio homes market in Gilbert is showing notable trends that are shaping buyer and seller strategies.
- Over the past month, the number of active listings has increased to 97, signaling a growing inventory.
- The average sold price has risen to $421,289, improving from $384,275 three months ago.
- Days on market (DOM) for sold listings is currently at 56 days, reflecting a quicker turnaround compared to 79 days six months ago.
- Months of inventory now stands at 5.2, indicating a balanced market.
Curious how the Gilbert Condos market has changed over time?
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Gilbert Condos Market Report
An In-Depth Look at the Gilbert Condos Market
The market for condos/townhomes/patio homes in Gilbert, as of May 5, 2025, reveals significant movements worthy of deeper examination.
- Active Listings: Currently, the market hosts 97 active listings, increased from 72 just three months ago. This surge in available properties indicates an expanded choice for buyers, potentially impacting pricing strategies.
- Sold Prices: The average sold price has demonstrated a robust increase; it now sits at $421,289, a notable rise from $384,275 in February. This upward trajectory suggests that buyer confidence is returning, encouraging more competitive offers.
- Days on Market (DOM): Listings are moving more rapidly, with the average DOM for sold properties at 56 days, a decline from 79 days six months prior. This trend indicates an acceleration in sales, allowing sellers to capitalize on favorable conditions.
- Months of Inventory: The current months of inventory is recorded at 5.2, which is higher than the typical seller's market benchmark of 4 months. This figure reflects a balanced market, allowing buyers a fair negotiating edge in transactions.
Overall, the average price per square foot for active listings has climbed to $338, while sold properties exhibit a lower price per square foot of $297. This discrepancy signals that many active listings maybe still adjust their prices to align with current buying sentiment as the market stabilizes. With these dynamics in mind, both buyers and sellers must adapt their strategies: buyers should be prepared to act quickly in this fast-moving market, and sellers must ensure their pricing remains competitive amid growing inventory.
Brian Adamski, Realtor
Proven Results in Gilbert | Guaranteed, Professional Real Estate Guidance
480-405-1265
