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

In Gilbert, AZ (ZIP: 85233), the median sold price stands at $539,999, reflecting a slight decrease in home values year-over-year. This trend indicates a down market, suggesting that buyers may be more selective in their purchasing decisions. The market is characterized by 174 days on average for properties to sell, which points to a slower sales velocity and potential pricing friction as sellers adjust expectations to align with buyer sentiment.

Despite the down trend in prices, the current market temperature is assessed as neutral, indicating a balance between supply and demand. Elevated inventory levels are evident, with a notable gap between the median listing price of $559,000 and the median sold price. This discrepancy may suggest that sellers are facing challenges in achieving their asking prices, further contributing to the overall market dynamics.

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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 Gilbert AZ around 5.875% are slightly lower than the 6.08% average seen in early 2026, presenting a minor cost advantage 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 $539,999 indicates a down trend in home values, reflecting buyer caution.

2. Properties are spending an average of 174 days on market, suggesting a slower sales velocity and potential pricing friction.

3. The median listing price of $559,000 shows a significant gap compared to the median sold price, indicating seller expectations may need adjustment.

4. Rental rates are experiencing a down trend, with a median market rent of $3,360, suggesting improved affordability for tenants.

5. Current interest rates around 5.875% are slightly lower than the average, providing a minor cost advantage for financing, which may sustain buyer activity.

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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.