Gilbert, Arizona Real Estate Market: How It Compares to Other Cities in Arizona

The Arizona real estate market has seen significant shifts in recent years, with cities across the state experiencing varied levels of growth, demand, and affordability. Gilbert, a thriving suburb in the Phoenix metropolitan area, has become a highly desirable place to live, attracting families, professionals, and investors alike. But how does Gilbert’s housing market compare to other major cities in Arizona? Let’s take a deep dive into pricing trends, competitiveness, and overall real estate market health.

Home Prices: Gilbert vs. Other Arizona Cities

As of late 2024, the median sale price of a home in Gilbert stands at approximately $554,450, marking a slight increase of 0.8% from the previous year. This positions Gilbert as one of the more expensive markets in the state, yet it remains relatively affordable when compared to high-end areas like Scottsdale.

For comparison:

• Scottsdale: The median home price is around $805,000, making it one of Arizona’s priciest markets.

• Phoenix: The state’s capital has a median home price of roughly $450,000, making it more affordable but still seeing significant appreciation.

• Chandler: Located just west of Gilbert, Chandler has a median home price of $535,800, slightly lower than Gilbert but comparable in terms of amenities and lifestyle.

• Mesa: With a median home price of about $449,900, Mesa offers more affordability while still being centrally located in the Phoenix metro area.

• Tucson: Home prices in Tucson hover around $360,000, significantly lower than in the Phoenix area, making it a more budget-friendly alternative.

Market Competitiveness

Gilbert remains a competitive housing market, though not as intense as it was during the peak of the housing boom in 2021-2022. On average, homes in Gilbert stay on the market for 58 days, receiving multiple offers in many cases. By comparison:

• Homes in Phoenix also have an average market time of about 58 days.

• In Scottsdale, homes tend to stay on the market for a bit longer, averaging around 64 days due to higher price points.

• Chandler’s market mirrors Gilbert’s, with homes selling at a similar pace.

• Mesa sees a slightly faster turnaround, as homes there tend to be more affordable, attracting a larger pool of buyers.

While Gilbert is considered competitive, it is not as red-hot as it was during the post-pandemic real estate surge. However, it remains a strong seller’s market with consistent demand.

Home Value Appreciation and Growth Trends

Over the last decade, Gilbert has seen remarkable home value appreciation. In 2017, median home prices were in the mid-$200,000s, meaning values have more than doubled in just a few years. This trend is similar to other Phoenix metro cities, such as Mesa and Chandler, where property values have surged due to population growth, a strong job market, and limited housing supply.

By comparison, cities like Tucson and Flagstaff have also seen home values rise, but at a slower rate than the Phoenix metro area. Flagstaff, for example, has a high median home price (over $600,000), but this is largely due to limited housing inventory and its status as a desirable mountain town.

Affordability and Cost of Living

While Gilbert’s housing prices are on the higher side for Arizona, the city still offers excellent value when considering quality of life, safety, schools, and amenities. Compared to places like Scottsdale, where luxury living drives prices up significantly, Gilbert remains a more affordable option for families seeking suburban convenience.

For those looking for more affordable alternatives, cities like Mesa, Peoria, and Surprise offer lower home prices while still providing reasonable access to the Phoenix job market. Tucson, being further south, offers one of the most affordable major housing markets in the state, though job opportunities are more limited compared to the Phoenix metro area.

Why Buyers and Investors Choose Gilbert

There are several reasons why Gilbert continues to be a strong choice for buyers and real estate investors:

1. Strong Job Market: With a thriving local economy and proximity to Phoenix’s major employment hubs, Gilbert attracts professionals across various industries.

2. Top-Rated Schools: The town boasts some of the best school districts in Arizona, making it a magnet for families.

3. Community and Safety: Gilbert consistently ranks as one of the safest cities in Arizona, adding to its desirability.

4. Long-Term Investment Potential: Given its history of home price appreciation and continued population growth, investing in Gilbert real estate remains a solid long-term play.

Final Thoughts

Gilbert’s real estate market is thriving, with home values continuing to appreciate and demand remaining strong. While it is more expensive than some Arizona cities, it offers an attractive blend of affordability, lifestyle, and investment potential compared to pricier markets like Scottsdale or Sedona. As Arizona continues to grow, Gilbert is well-positioned to remain one of the state’s most desirable places to live and invest.

Whether you're a homebuyer looking for a family-friendly community or an investor seeking steady appreciation, Gilbert remains a top contender in Arizona’s diverse real estate market.