Gilbert

Gilbert Prices Push Higher (in May)

What a difference a month makes…

From May’18 - Apr’19 the pricing was absolutely flat. I was ready to talk about Gilbert being another part of the narrative of slowing appreciation across much of the Valley. Then I saw the numbers from May’19; now we’re going to talk about more consistent appreciation in Gilbert.

The Median Sales Price in Gilbert was $354,995 in May, up 6% YoY from $334,000 in May’18 and 16% from $305,000 in May’17.

True, pricing was flat for the 11 months preceding May’19, but pricing was also flat in the 11 months preceding May’16, and that didn’t stop the overall upward trend…

-

- Chris Butterworth

-

Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

Prices Rise across the East Valley

The Median Sales Price rose across the East Valley in April, when compared YoY with April 2018. Chandler, Gilbert and Mesa rose modestly (3-5%), while Tempe’s median price rose sharply (8%) from $310,000 in Apr ‘18 to $335,885 in Apr ‘19.

It’s also interesting to see the median prices bunched together so closely, with Chandler, Gilbert, and Tempe all within a couple thousand dollars of each other. I’m not sure exactly what this means, if anything, but it’s unusual compared with other time periods and other parts of the Valley.

-

- Chris Butterworth

-

Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

Gilbert homes continue to sell quickly

Last month we saw that prices continued to rise in Gilbert; this month we can see that Gilbert homes are still selling quickly. The median Days on Market for homes sold in April was 37 days, up 12% from last year’s blistering 33 days, and equal to the marketing time from April ‘17.

The trend is following the same seasonal pattern as the last couple of years, although Feb, Mar, and Apr all had a few days more on the market than the same months in 2018.. Is the market cooling off at all? Or was 2018 just a really “hot market” year?

-

- Chris Butterworth

-

Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

Gilbert turns in another strong quarter

The Median Sales price in Gilbert was $331,000 in the first quarter this year, up 5% YoY from last year’s $315,000 and 32% over the last 5 years. And much like the rest of Maricopa County, the largest increase each year seems to come during Q2, so we’ll have to keep our eyes open to see if the current quarter keeps pace.

-

- Chris Butterworth

-

Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

Gilbert $/Sqft Increases Again

The Median Price per Square Foot in Gilbert was $164.07 last month, up 7% from $153.71 in Feb ‘18, and up 30% over the last 4 years, since $126.40 in Feb ‘15.

The chart also shows that February was near the low point in each of the last few years, with a consistent price increase in the spring months. If that holds true again this year we are at the start of another price pop in Gilbert..

-

- Chris Butterworth

-

Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.