Gilbert, AZ Real Estate and Rental Market Update
June 2026
Gilbert’s real estate market remained one of the strongest in the Southeast Valley during June. Home prices continued to appreciate, homes sold faster than they did a year ago, and the rental market saw a significant increase in leasing activity. While inventory remains healthy, strong buyer and tenant demand continues to support the market.
Sales Market Highlights
- Active Listings: 817 (4.0% decrease YoY)
- Median Sold Price: $285.36 per SF (1.5% increase YoY)
- Average Days on Market: 45 days (6.2% decrease YoY)
- 30-Year Mortgage Rate: 6.49%
Gilbert continues to outperform many surrounding communities. Active inventory remains below last year’s levels, while home values continue to appreciate. Buyers still have more options than during the peak seller’s market, but well-priced homes continue to attract strong interest and are selling more quickly than they were a year ago.
Rental Market Highlights
- Active Rental Listings: 199 (8.3% decrease YoY)
- Median Rent: $1.39 per SF (1.5% increase YoY)
- Median Days on Market: 16 days (15.8% decrease YoY)
Gilbert’s rental market remains exceptionally strong. Available rental inventory declined compared to last year while rental rates increased. The biggest headline this month is leasing speed—homes leased in a median of just 16 days, demonstrating outstanding tenant demand for quality rental properties.
Key Takeaways
- 📉 Home inventory declined 4.0% from last year.
- 📈 Home values increased 1.5%, continuing Gilbert’s strong long-term appreciation.
- ⚡ Homes sold in an average of 45 days, 6.2% faster than a year ago.
- 💰 Mortgage rates remained relatively stable at 6.49%.
- 🏡 Rental inventory declined 8.3%, creating a more competitive rental market.
- 📈 Median rents increased 1.5% year over year.
- 🚀 Rental homes leased in just 16 days, highlighting extremely strong tenant demand.
Overall Outlook
Gilbert continues to be one of the healthiest real estate markets in the Phoenix Metro area. Homeowners are benefiting from continued appreciation and relatively quick sales, while buyers still have a reasonable selection of homes compared to recent years. For rental property owners, June delivered particularly encouraging news. Rising rental rates, declining inventory, and exceptionally fast leasing times point to a highly competitive rental market with strong demand. As we move through the summer, Gilbert remains an excellent market for both homeowners and long-term real estate investors in Gilbert, AZ.
May 2026
Sales Market
Active Listings: 816 (-10.0% YoY)
→ Inventory continues to tighten compared to last year, giving buyers fewer options and creating a healthier balance between supply and demand.
Median Sold $/SF: $285.66 (+1.0% YoY)
→ Home prices have turned positive year-over-year, a strong sign that Gilbert remains one of the Valley’s most resilient housing markets.
Average Days on Market: 43 (-8.5% YoY)
→ Homes are selling faster than they were a year ago, reflecting strong buyer demand despite elevated mortgage rates.
30-Year Mortgage Rate: 6.52%
→ Mortgage rates increased in May, but demand in Gilbert has remained resilient thanks to limited inventory and desirable neighborhoods.
Rental Market
Active Listings: 167 (-7.2% YoY)
→ Rental inventory continues to tighten, giving prospective tenants fewer options than they had a year ago.
Median Rented $/SF: $1.36 (No Change YoY)
→ Rental pricing has remained steady year-over-year, demonstrating a healthy balance between supply and demand.
Median Days on Market: 26 (+18.2% YoY)
→ Rentals are taking slightly longer to lease than last year, suggesting renters remain selective even in a tighter inventory environment.
Key Takeaways
- Sales inventory continues to tighten significantly.
- Home prices have returned to positive year-over-year growth.
- Faster selling times reflect strong buyer demand.
- Rental inventory remains below last year’s levels.
- Rental prices have remained stable despite changing market conditions.
- Gilbert continues to outperform many surrounding markets thanks to strong demand and limited inventory.
Overall
Gilbert continues to be one of the strongest-performing housing markets in the Phoenix metro. Inventory has declined substantially from last year, home values have returned to positive annual growth, and homes are selling faster despite higher mortgage rates. The rental market remains equally healthy, with tighter inventory, stable rent prices, and consistently strong demand. While affordability challenges remain due to elevated interest rates, Gilbert’s market fundamentals continue to favor long-term stability, making it one of the Valley’s most resilient communities heading into the summer market.
April 2026
Sales Market
Active Listings: 819 (-2.7% YoY)
→ Inventory remains slightly below last year’s levels, keeping supply relatively constrained despite the spring inventory build.
Median Sold $/SF: $276.29 (-3.5% YoY)
→ Home prices remain modestly below last year, suggesting continued pricing pressure even in one of the Valley’s stronger submarkets.
Average Days on Market: 41 (No Change YoY)
→ Homes are selling at virtually the same pace as last year, signaling a stable and healthy level of buyer activity.
30-Year Mortgage Rate: 6.35%
→ Mortgage rates improved from March, offering buyers a modest affordability boost heading deeper into the spring market.
Rental Market
Active Listings: 150 (+0.7% YoY)
→ Rental inventory is essentially flat compared to last year, indicating a relatively balanced supply environment.
Median Rented $/SF: $1.33 (No Change YoY)
→ Rental pricing held steady year-over-year, suggesting equilibrium between renter demand and available inventory.
Median Days on Market: 25 (+2.0% YoY)
→ Rentals are leasing at nearly the same speed as last year, pointing to continued healthy renter demand.
Key Takeaways
- Sales inventory remains slightly below last year, keeping supply relatively tight
- Home pricing is still under mild pressure, though not seeing dramatic declines
- Buyer demand appears stable with homes selling at the same pace as last year
- Rental inventory and pricing are both remarkably stable
- Gilbert continues to show balanced conditions on both the sales and rental side
- Lower mortgage rates may help support continued spring activity
Overall
Gilbert’s April market looks notably balanced compared to many surrounding submarkets. The sales market remains healthy, with relatively tight inventory and steady buyer activity, even as home prices remain slightly below last year’s levels. The rental market is equally stable, with flat pricing, balanced inventory, and quick leasing timelines. Overall, Gilbert continues to stand out as one of the Valley’s more resilient and steady markets.