Gilbert, AZ 85233 Real Estate Market Report

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

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Executive Overview

The Gilbert, AZ market is currently characterized by a median sold price of $540,000, reflecting a slight cooling trend as the neighborhood has decreased 8% since 2022. This decline in sold prices suggests a shift in buyer sentiment, potentially influenced by elevated interest rates, which are currently averaging between 5.875% to 6.17% for 30-year fixed mortgages. As a result, the market appears to be experiencing slower transaction volume and extended days on market, with properties averaging 177 days before sale.

Despite these challenges, the median listing price stands at $565,000, indicating a notable gap between seller expectations and actual market performance. This discrepancy may contribute to elevated inventory levels, suggesting that sellers may need to adjust their pricing strategies to align more closely with current buyer demand. Overall, the market temperature remains neutral, reflecting a balance between supply and demand, albeit with signs of softening in certain segments.

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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 5.875% to 6.17%, which is notably lower than the 6.85% average seen one year ago, presenting a refinancing opportunity for recent borrowers.

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. $540,000 is the current median sold price, indicating a decrease of 8% since 2022.

2. The median listing price of $565,000 suggests a pricing gap that may lead to elevated inventory levels relative to sales activity.

3. Properties are taking an average of 177 days on market, which points to slower sales velocity in the current environment.

4. The median market rent is at $3,360, reflecting a down trend in rental rates, likely due to high new apartment supply in the broader Phoenix area.

5. Current interest rates are elevated, averaging between 5.875% to 6.17%, which may present refinancing opportunities but also contributes to elevated interest rate pressure on buyers.

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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.