Mesa AZ Real Estate Housing Market Report - February 2022
The average sales price of homes in Mesa has increased for the third straight month, going from $527,741 in January to a new all-time high of $539,937 for February of 2022. The average sales price of Mesa homes has now increased in 13 out of the last 15 months.
The sales price per square foot of Mesa homes has either remained the same or has continued to climb for 26 consecutive months now. The price per square foot of Mesa homes continues that trend into 2022, increasing from $259/sf in January to $265/sf for February. This is a significant increase of $59/sf since February of 2021.
After increasing for two consecutive months, the days on market for Mesa has decreased from 32 DOM in January to 28 DOM in February. This is the third year in a row that DOM has decreased in February, as we head into the spring buying season. The days on market is still extremely low for Mesa, and that means that homes in Mesa, AZ will still be in high demand early in 2022.
The sales price per square foot of Mesa homes has either remained the same or has continued to climb for 26 consecutive months now. The price per square foot of Mesa homes continues that trend into 2022, increasing from $259/sf in January to $265/sf for February. This is a significant increase of $59/sf since February of 2021.
After increasing for two consecutive months, the days on market for Mesa has decreased from 32 DOM in January to 28 DOM in February. This is the third year in a row that DOM has decreased in February, as we head into the spring buying season. The days on market is still extremely low for Mesa, and that means that homes in Mesa, AZ will still be in high demand early in 2022.
Mesa home sales saw a nice increase in February, as home sales went from 467 in January up to 534 in February, after decreasing the previous two months. It is typical for home sales to increase in February, and this is the fourth straight February this has been the case. Mesa home sales this February are lower than in February of last year by -7.0%, but higher than in January of 2019 and 2020.
After increasing last month, the number of new listings for February saw a decrease down to 570 from 619 in January. New listings over the previous two years have increased in February. With this unexpected decrease of new listings in Mesa, they are now -14.0% lower than they were in February of last 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 has decreased for the fourth straight month, going from a 2021 high of 907 in October to 655 in February this year. Even though active listings in Mesa have been trending lower, the number of active listings is actually 3.8% higher than they were in February of 2021, due to the fact that there are just fewer homeowners listing their homes in the winter and early spring. To represent how low Mesa inventory is right now, the current inventory of homes for sale is down -56.1% from February of 2019.
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 29.2% since February of 2021. With interest rates moving just over 4.0%, there still should be more buyers looking to purchase a home in Mesa early on in 2022.
After increasing last month, the number of new listings for February saw a decrease down to 570 from 619 in January. New listings over the previous two years have increased in February. With this unexpected decrease of new listings in Mesa, they are now -14.0% lower than they were in February of last 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 has decreased for the fourth straight month, going from a 2021 high of 907 in October to 655 in February this year. Even though active listings in Mesa have been trending lower, the number of active listings is actually 3.8% higher than they were in February of 2021, due to the fact that there are just fewer homeowners listing their homes in the winter and early spring. To represent how low Mesa inventory is right now, the current inventory of homes for sale is down -56.1% from February of 2019.
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 29.2% since February of 2021. With interest rates moving just over 4.0%, there still should be more buyers looking to purchase a home in Mesa early on in 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.
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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