Gilbert, AZ 85233 Real Estate Market Report

ZIP Code: 85233
Report Date: March 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in Gilbert, AZ stands at $525,000, reflecting a stable market despite a slight year-over-year price softness. The neighborhood has decreased 8% since 2022, indicating a trend of price adjustments that may influence buyer sentiment. Recent month-over-month appreciation suggests a potential shift towards a more balanced market, although elevated interest rates continue to exert pressure on affordability and buyer decision-making.

Current market conditions are characterized by elevated inventory levels, with a notable 214 days on market for sold properties, indicating slower sales velocity. This extended time frame may suggest pricing friction, as sellers adjust expectations in response to market dynamics. Overall, the market temperature is assessed as neutral, reflecting a balance between supply and demand, yet the elevated interest rate pressure could impact future transaction activity.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the Gilbert AZ market average around 6.38% to 6.64%, which is slightly lower than the 6.73% rate seen just days ago, presenting a marginal cost opportunity for new financing.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price of $525,000 indicates a stable market, despite a decrease of 8% since 2022.

2. With 214 days on market, properties are experiencing slower sales velocity, suggesting pricing friction in the current environment.

3. The median market rent of $3,360 reflects strong rental demand, although the year-over-year trend is down.

4. Current interest rates, averaging between 6.38% to 6.64%, present a marginal cost opportunity for financing, yet remain under elevated pressure.

5. The market temperature is assessed as neutral, indicating a balanced state between buyer and seller dynamics.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.