Mesa AZ Real Estate Housing Market Report - December 2022
After increasing in October, the average sales price of homes in Mesa has decreased the last two months of 2022, going from $548,933 in October to $501,649 this month. This is the lowest it has been all year, as the average sales price in Mesa started at $527,742 in January.
The average sales price per square foot of Mesa homes has decreased seven straight months after remaining the same or increasing for 29 consecutive months. The price per square foot of Mesa homes has decreased from $294/sf in May to $251/sf in December. With the decreases over the last seven months the average sales price per square foot is now less than it was in December of last year by $2/sf. This is the first year-over-year decline in at least the last three years.
After decreasing for four consecutive months, the days on market for Mesa has also increased seven months in a row, going from 21 DOM in May to 62 DOM in December (almost tripling). The increasing days on market for Mesa is a sign that demand is slowing as we head into the new year.
The average sales price per square foot of Mesa homes has decreased seven straight months after remaining the same or increasing for 29 consecutive months. The price per square foot of Mesa homes has decreased from $294/sf in May to $251/sf in December. With the decreases over the last seven months the average sales price per square foot is now less than it was in December of last year by $2/sf. This is the first year-over-year decline in at least the last three years.
After decreasing for four consecutive months, the days on market for Mesa has also increased seven months in a row, going from 21 DOM in May to 62 DOM in December (almost tripling). The increasing days on market for Mesa is a sign that demand is slowing as we head into the new year.
After decreasing two months in a row, home sales in Mesa have increased to end 2022, going from 311 in November to 368 this month. Total sales for December are the lowest they have been since before 2018. Mesa home sales this month are lower than in December of last year by -41.8%.
After increasing for two straight months, the number of new listings in Mesa have now decreased for six straight months, going from 882 in June to 297 in December. With this decrease of new listings in Mesa, they are now -43.9% lower than they were in December of last year. The number of homes being listed tends to trend lower this time of year, but they are more than 200 listings less than in December of the previous 2 years.
After increasing for seven straight months, the number of active listings in Mesa has decreased for the second straight month, going from 1,652 in October to 1,359 in December. Even with the decline, this is the highest inventory in December over the last four years.
This decline in active listings in Mesa signifies that fewer homeowners are putting their homes up for sale as we head into winter. The number of active listings is still 73.6% higher than they were in December of 2021.
Demand has slowed, as have the home prices, partially due to inflation and the impact of the COVID pandemic. Median home values in Mesa have decreased an average of -3.8% since December of 2021. This is the first decrease we have seen in at least 4 years, but probably even longer. With interest rates ranging right around 6.5%, the demand for purchasing a home in Mesa is slowing.
After increasing for two straight months, the number of new listings in Mesa have now decreased for six straight months, going from 882 in June to 297 in December. With this decrease of new listings in Mesa, they are now -43.9% lower than they were in December of last year. The number of homes being listed tends to trend lower this time of year, but they are more than 200 listings less than in December of the previous 2 years.
After increasing for seven straight months, the number of active listings in Mesa has decreased for the second straight month, going from 1,652 in October to 1,359 in December. Even with the decline, this is the highest inventory in December over the last four years.
This decline in active listings in Mesa signifies that fewer homeowners are putting their homes up for sale as we head into winter. The number of active listings is still 73.6% higher than they were in December of 2021.
Demand has slowed, as have the home prices, partially due to inflation and the impact of the COVID pandemic. Median home values in Mesa have decreased an average of -3.8% since December of 2021. This is the first decrease we have seen in at least 4 years, but probably even longer. With interest rates ranging right around 6.5%, the demand for purchasing a home in Mesa is slowing.
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 considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
If you're thinking of buying a home, connect with me to begin your journey to homeownership.
Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
If you're thinking of buying a home, connect with me to begin your journey to homeownership.
Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 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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