What the numbers actually mean for buyers and sellers right now

The Gilbert housing market today is very different from the crazy market we saw a few years ago.

Back in 2020 and 2021, homes sold almost instantly. Buyers had to offer way over asking price, skip inspections, and rush decisions.

That’s not the case anymore.

The market today is much more balanced, which means both buyers and sellers have opportunities… but they have to be smarter.

Let’s break down what the numbers actually mean.

How many homes are for sale in Gilbert?

Right now Gilbert has about:

• 730 homes actively listed

• 597 true active homes (not already under contract)

• 164 homes pending

• 297 homes under contract

About 235 homes sell every month, which equals roughly 3,000 homes per year.

What that tells us is simple.

Homes are still selling in Gilbert.

But buyers are being more careful about what they buy.

How fast homes are selling

Homes that sell in Gilbert are taking about:

67 days on average

Active homes are sitting closer to:

70 days on market

That might sound slow, but it’s actually normal.

During the pandemic boom, homes sometimes sold in 3–7 days.

Today buyers have more time to:

• look at multiple homes
• compare neighborhoods
• negotiate price

How much homes cost right now

The average home price in Gilbert is about:

$676,651 (monthly average)
$689,054 (annual average)

The median price (which shows the middle of the market) is about:

$580,000 to $590,000

The biggest group of buyers right now are shopping between:

$500,000 and $700,000

That price range is where most homes are selling.

Price per square foot across Gilbert

Different parts of Gilbert have different prices.

Right now the average price per square foot looks like this:

West Gilbert (85233)
$287 per sq ft

Central Gilbert
$298 per sq ft

North Gilbert
$322 per sq ft

South Gilbert
$323 per sq ft

Gilbert overall average
$311 per sq ft

What this means is simple.

North and South Gilbert are currently the most expensive areas, mostly because they have newer homes and larger master-planned communities.

West Gilbert tends to offer better value for buyers, especially if someone doesn’t need brand-new construction.

How strong the market is

A number called the Cromford Market Index helps show whether buyers or sellers have the advantage.

Gilbert’s score right now is:

135

Anything above 100 means sellers still have the edge.

But the market is much closer to balanced than it was before.

This is why buyers today are finally able to negotiate again.

Homes are selling slightly below list price

Right now homes are selling for about:

97.9% of the original asking price

This is important.

It means if a home is listed at:

$700,000

It will usually sell somewhere around:

$685,000 to $690,000

That difference often comes from things like:

• negotiation after inspections
• seller concessions
• price reductions

A few years ago homes often sold above list price.

Now buyers have more leverage.

Some homes still sell over asking price

Even though the market has slowed down, about:

13% of homes in Gilbert still sell above list price

These homes are usually:

• priced correctly
• move-in ready
• in strong neighborhoods
• under $700K

So bidding wars haven’t disappeared… they just happen less often.

The chance of selling your home

Right now the success rate of selling a home in Gilbert is about 84–85%.

To understand that number better:

2020 success rate
97%

2022 success rate
61%

Today
~85%

So the market has stabilized again, but sellers still need to price their homes correctly.

Homes that start too high often sit on the market longer.

Where buyers are negotiating the most

Some parts of Gilbert are seeing bigger price negotiations than others.

The biggest difference between asking price and sale price is happening in:

85234 and 85298

These areas tend to have larger homes or higher price points where buyers negotiate more.

The smallest negotiation gaps are happening in:

85295 and 85297

These neighborhoods tend to have newer homes and stronger demand.

What this means if you're selling

If you’re thinking about selling in Gilbert right now, a few things matter more than they used to.

First, price matters a lot.

Buyers today compare multiple homes before making an offer.

Second, presentation matters.

Homes that are clean, updated, and priced correctly are still selling.

Third, the market is stable.

With an 84% success rate, most homes that are priced properly are still finding buyers.

What this means if you're buying

This is the most flexibility buyers have had in years.

Buyers today can:

• negotiate price
• ask for seller concessions
• compare homes
• take time before making decisions

But the best homes still move quickly.

Especially in the $500K to $700K range, where most buyers are looking.

The big picture

The Gilbert housing market is not crashing.

It’s simply returning to something more normal.

Homes are still selling.

Prices are still strong.

But buyers finally have room to negotiate again.

And that’s what makes this market healthier than the extreme markets we saw in the past few years.