Mesa AZ Real Estate Housing Market Report - December 2021
The sales price per square foot of Mesa homes has either remained the same or has continued to climb for at least 24 consecutive months now. After November home prices per square foot remained the same as October ($251/sf), December saw an increase in the average sold price up to $253/sf. This is a significant increase of $57/sf in just one year.
The DOM for Mesa in December increased to 31 after November remained the same as October, at 28 DOM. This is the third month in a row that Mesa DOM has either remained the same, or increased, and the highest it has been since it was 33 DOM back in February of this year. The days on market is still extremely low for Mesa, and that means that homes in Mesa, AZ will still be in high demand as we head into 2022.
The number of new listings for December continued to drop, after consistently being over 725 each month between March and September of this year. This is the fifth decrease in a row after reaching a 2021 high of 755 new listings in July. New listings in Mesa are now down to 526 for December, and even though that is a significant drop, it is a 12.4% increase from December of last year. Although new listings are decreasing, they are still higher than last year. The consistent drop in new listings is due to the seasonal cycle of real estate in Arizona, and the fact that fewer homes are listed during the winter months.
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 decreased from 840 in November to 742 in December. This is the third decrease in a row after increasing for six straight months. Even though active listings in Mesa have been trending lower, the number of active listings are only -3.3% less than they were in December of 2020. To represent how low Mesa inventory is right now, the current inventory of homes for sale is down -44.8% from December of 2018.
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 29.1% since December of 2020. With interest rates remaining slightly above 3.3%, there still should be more buyers looking to purchase a home in Mesa to start out 2022.
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.
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.