Mesa AZ Real Estate Housing Market Report - January 2022
The sales price per square foot of Mesa homes has either remained the same or has continued to climb for at least 25 consecutive months now. The price per square foot of Mesa homes continues that trend into 2022, increasing from $253/sf in December to $259/sf for January. This is a significant increase of $57/sf in just one year. On a 2,000/sf home, this means the value has gone up from $404,000 in January of 2021 to $518,000 in January of 2022.
The days on market for Mesa has increased for the second straight month, up from 31 DOM in December to 32 DOM in January. This is the sixth month out of the last seven that the Mesa DOM has either remained the same, or increased, and the highest it has been since it was 33 DOM back in February of 2021. The days on market is still extremely low for Mesa, and that means that homes in Mesa, AZ will still be in high demand through 2022.
After decreasing for five straight months the number of new listings for January saw a nice increase up to 613 from 529 in December of 2021. New listings tend to increase in January and have done so every January since 2018. With this increase in new Mesa listings, they are now 2.9% higher than they were in January 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 third straight month, going from 764 in December to 670 in January. Even though active listings in Mesa have been trending lower, the number of active listings are actually 1.8% greater than they were in January of 2021. To represent how low Mesa inventory is right now, the current inventory of homes for sale is down -51.7% from January 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 30.6% since January of 2021. With interest rates remaining relatively low at 3.5%, there still should be more buyers looking to purchase a home in Mesa 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.