Mesa AZ Real Estate Housing Market Report - August 2021
The average sales price of Mesa homes continues to increase, reaching a new all-time high of $501,007 for August. This is the first time homes in Mesa have surpassed the $500k mark, and is the ninth month in a row that the average sales price of homes in Mesa have increased. At the same time, the price per square foot has continued to climb, increasing from $240/sf in July to $244/sf in August.
After decreasing to an all-time low of 20 days on market in June, July saw an increase in the Mesa DOM to 22, and August has moved up to 25 DOM. This is the highest it has been since February of this year, but is still extremely low, and means that homes in Mesa, AZ are still selling very fast!
After decreasing to an all-time low of 20 days on market in June, July saw an increase in the Mesa DOM to 22, and August has moved up to 25 DOM. This is the highest it has been since February of this year, but is still extremely low, and means that homes in Mesa, AZ are still selling very fast!
After dropping to 624 in July, Mesa home sales increased to 642 in August. Home sales in Mesa are now higher than in August of last year by 1.1%. In January through May of 2020 the housing market stalled due to COVID-19, but by June of 2020, the housing market was back in business, and people started buying and selling homes again (see graph below).
The number of new listings has remained over 725 for the last five months, and after increasing to 741 in July, dropped off a little in August, to 731. This is just a -0.4% decrease from August of last year, so obviously the numbers are very similar.
There is still a lack of inventory based on demand, and that will only help home prices continue their upward trend. The number of active listings continues to increase from 1,185 in July to 1,263 in August. This is at least the fourth straight month that active listings in Mesa have increased. Since active listings have continued to increase, the number of active listings in Mesa is now greater than in August of 2020 by 2.4%. For the first time this year, there are more Mesa homes being listed for sale than compared to the same month last year.
The number of listings overall is still low, and the lack of listings continues to drive demand and home prices higher. Median home values in Mesa have increased an average of 31.1% since August of 2020. With interest rates remaining near or below 3.0%, there still should be more buyers looking to purchase in Mesa throughout the rest of this year.
There is still a lack of inventory based on demand, and that will only help home prices continue their upward trend. The number of active listings continues to increase from 1,185 in July to 1,263 in August. This is at least the fourth straight month that active listings in Mesa have increased. Since active listings have continued to increase, the number of active listings in Mesa is now greater than in August of 2020 by 2.4%. For the first time this year, there are more Mesa homes being listed for sale than compared to the same month last year.
The number of listings overall is still low, and the lack of listings continues to drive demand and home prices higher. Median home values in Mesa have increased an average of 31.1% since August of 2020. With interest rates remaining near or below 3.0%, there still should be more buyers looking to purchase in Mesa throughout the rest of this year.
For more detailed stats on the Mesa Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
For more detailed stats on the Mesa Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.
If you're thinking of selling, many buyers will be eager to find a home just like yours due to the low inventory of available homes for sale. Reach out to me today to make sure you can get your house in on the action.
If you're thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
If you're thinking of selling, many buyers will be eager to find a home just like yours due to the low inventory of available homes for sale. Reach out to me today to make sure you can get your house in on the action.
If you're thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.
"Real Estate is not just a job for me, it's about making a difference in the lives of others"
Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee
Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]
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Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
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