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Gilbert Area Information

Once known as the “Hay Shipping Capital of the World,” Gilbert, Arizona has evolved into one of the fastest growing communities and the largest town in the United States. Encompassing 72.6 square miles, just southeast of Phoenix, Gilbert has transformed from an agricultural community to a thriving and economically-diverse suburban community.

Incorporated in 1920, Gilbert owes its beginnings to William "Bobby" Gilbert who provided land to the Arizona Eastern Railway in 1902 to construct a rail line between Phoenix and Florence, Arizona.

During the last three decades, Gilbert has seen tremendous growth, increasing in population from 5,717 in 1980 to more than 242,955 in 2015. Many recent accolades, including being named the 2nd Safest City and the 22nd Best Place to Live in the country, explain why so many want to live and do business in Gilbert.

The iconic water tower stands tall in downtown Gilbert in an area that once housed little more than the post office. Today, you will find the downtown bustling with shops, restaurants, a theater and, soon, it will also be home to a University.

Gilbert boasts a nationally ranked K-12 education system including public schools, unique magnet and charter schools, with an average graduation rate of 90%. Nearly 40% of Gilbert residents hold a bachelor’s degree or higher and the median household income is $80,080.

Gilbert’s booming housing industry is coupled with booming business. With a targeted focus in the Science, Technology, Engineering and Math industries, Gilbert is home to many companies with focuses in Advanced Manufacturing, Aerospace and Defense, Bio-Technology, Clean Technology and Renewable Energy.

As Gilbert approaches build-out over the next decade, the estimated population is expected to reach 330,000. With a continued focus on building the latest satellites, conducting cancer research and producing algae technology, Gilbert will continue to grow and thrive and uphold its reputation as being clean, safe and vibrant.

Gilbert Market Activity & Statistics:

Month Active Listings Closed Listings Avg. Sold Price
Aug-16 1053 519 $314,823
Sep-16 1011 468 $323,378
Oct-16 1039 444 $309,580
Nov-16 1035 400 $302,985
Dec-16 938 423 $319,780
Jan-17 877 340 $314,590
Feb-17 987 345 $306,437
Mar-17 888 511 $317,665
Apr-17 937 487 $316,820
May-17 932 571 $325,032
Jun-17 870 583 $337,750
Jul - 17 848 490 $354,632
Aug - 17 799 511 $341,720

 

Summary Statistics
  Aug-17 Aug-16 % Chg 2017 YTD 2016 YTD % Chg
Absorption Rate 1.71 2.22 -22.97 1.78 2.35 -24.26
Average List Price $440,080 $399,903 10.05 $362,149 $340,296 6.42
Median List Price $365,000 $339,900 7.38 $319,500 $299,000 6.86
Average Sale Price $341,720 $314,661 8.60 $328,588 $304,925 7.76
Median Sale Price $300,000 $285,000 5.26 $295,000 $273,000 8.06
Average CDOM 53 54 -1.85 55 59 -6.78
Median CDOM 39 39 0.00 39 41 -4.88

 

Sellers who provide the best value by pricing correctly, having the home in move in ready condition, and by having all repairs completed should find a ready, willing and able buyer in short order.

Gilbert Links

Maricopa County - http://www.maricopa.gov/

Town of Gilbert - http://www.gilbertaz.gov/

Gilbert Public Schools - http://www.gilbertschools.net/site/default.aspx?PageID=1

Gilbert Chamber of Commerce - http://www.gilbertaz.com/

Gilbert Golf Courses - https://www.google.com/?gws_rd=ssl#q=Gilbert+Arizona+golf+courses

Parks & Recreation in Gilbert - http://www.gilbertaz.gov/departments/parks-and-recreation

 

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Mark Smith
Designated Broker/Property Manager/Owner
Arizona Home Brokerage

480-236-0319
mark@arizonahomebrokerage.com