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Market Intelligence · AZ / Gilbert

Gilbert, AZ 85233 Housing Market

The typical home in Gilbert, AZ 85233 is valued at $516,489 as of September 2026, down 0.5% over the past year. The median list price is $581,944, and homes are taking a median of 54 days on market. That gap between list price and typical value is worth noting for sellers.

Updated September 2026Median value$516K

The median home value in Gilbert, AZ 85233 is $516K as of September 2026, down 0.5% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 85233 range

$475K to $558K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

-0.5% over 12 months

Typical home value in 85233 over the last 12 months: $519K in Sep 2025 to $516K in Sep 2026 (-0.5%).

Sep 2025$519K

Sep 2026$516K

The numbers

What is the 85233 housing market like?

Typical home value

$516K

Down0.5%YoY

Median list price

$582K

Up6.0%MoM

Days on market

54

Down5.3%MoM

Homes for sale

86

Up3.6%MoM

Price cuts

28.1%

Down16.4%MoM

New listings

38

Down5.0%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

85233 housing market forecast 2027

-1.6%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 85233 to fall 1.6% by September 2027.

Over the 12 months through September 2026, typical home values in 85233 fell 0.5%, per the Zillow Home Value Index.

Will home prices drop in 85233?

Zillow's forecast says they may: it expects typical home values in 85233 to fall 1.6% by September 2027, after a 0.5% decline over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 85233 home prices compare?

  • 85233$516,489
  • Gilbert$545,364
  • Arizona$385,442
  • United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Gilbert: 6 ZIPs; Arizona: 300 ZIPs; United States: 26,262 ZIPs).

Context

As of September 2026, there are 86 homes for sale in 85233, with 38 new listings entering the market. The median list price is $581,944, while the typical home value is $516,489, down 0.5% over the past year. Homes are sitting a median of 54 days on market, and 28.1% of listings have taken a price cut. Values are roughly flat, and more than a quarter of sellers have already reduced their asking price. For a seller, this means pricing realistically from the start matters more than testing the market with a high number.

Monthly payment

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20% · $103,298

Common questions

What people ask us.

How much is a home in 85233 worth?

The typical home value in 85233 is $516,489 as of September 2026, down 0.5% over the past year. The median list price is higher at $581,944.

How fast are homes selling in 85233?

Homes in 85233 are spending a median of 54 days on market as of September 2026. With 86 homes for sale and 38 new listings, buyers have a reasonable amount of choice.

Are sellers cutting prices in 85233?

Yes. As of September 2026, 28.1% of listings in 85233 have had a price cut.

Discover

Nearby ZIP markets.

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Guides for sellers.