Real Estate Market Report - Gilbert, AZ (Dec, 2023)

The median sale price for homes is expected to increase from $524,000 in December 2022 to $599,900 in November 2023, while the median list price is expected to remain relatively stable around $550,000 with a slight dip in January 2023 and a peak of $571,250 in June 2023.

The median sale price per square foot shows a gradual increase from December 2022 to November 2023, with a peak of $287.65 in November 2023. The highest increase is seen between September and October 2023, with a rise of $0.42. Overall, the real estate market appears to be steadily growing over this period.

The median sale price to list price ratio starts at 0.981 in December 2022 and gradually increases until June 2023 when it reaches 1.0. It remains at 1.0 for July and October 2023 and then decreases slightly to 0.993 in November 2023.

The first set of data shows that properties sold/listed increased steadily from December 2022 to October 2023, with the highest number of listings in October at 352. However, there was a noticeable dip in June 2023 with only 165 properties sold/listed. The second set of data shows a more inconsistent pattern with fluctuations in listings throughout the year, with March and June having the highest number of listings at 361 and 380 respectively, and November having the lowest at 189.

The median days on market for homes is expected to increase from 62 days in December 2022 to 72 days in January 2023, and then decrease steadily to 45 days by November 2023. September 2023 is expected to have the lowest median days on market at 39 days.