Mesa AZ Real Estate Housing Market Report - February 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.
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.
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.