Mesa AZ Real Estate Housing Market Report - July 2021
The average sales price of Mesa homes increased by $4,636, reaching a new all-time high of $486,403 for July. At the same time, the price per square foot has continued to climb, increasing from $234/sf in June to $240/sf in July.
After decreasing to an all-time low of 20 days on market in June, July saw an increase in the Mesa DOM to 22, and has now been hovering under 25 DOM for the last five months. This is extremely low, and means that homes in Mesa, AZ are selling very fast!
After decreasing to an all-time low of 20 days on market in June, July saw an increase in the Mesa DOM to 22, and has now been hovering under 25 DOM for the last five months. This is extremely low, and means that homes in Mesa, AZ are selling very fast!
After seeing numbers above 660 over the last three months, Mesa home sales decreased from 664 in June down to 625 in July. Home sales in Mesa are also lower than in July of last year by -11.0%, mainly due to the COVID-19 pandemic. In January through May of 2020 the housing market stalled due to COVID-19, but by June of 2020, the housing market was back in business, and people started buying and selling homes again (see graph below).
The number of new listings has remained over 725 for the last five months, and slightly increased from 734 in June to 741 in July. This is also a 2.3% increase from July 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 increased from 1,108 in June to 1,185 in July. Although active listings continue to increase, the number of active listings in Mesa still remains lower than July of 2020 by -2.9%. There are still fewer Mesa homes being listed for sale compared to June of 2020.
The lack of listings continues to drive demand and home prices higher. Median home values in Mesa have increased an average of 26.9% since July of 2020. With interest rates remaining near or below 3.0%, there still should be more buyers looking to purchase in Mesa throughout the rest of this year.
The lack of listings continues to drive demand and home prices higher. Median home values in Mesa have increased an average of 26.9% since July of 2020. With interest rates remaining near or below 3.0%, there still should be more buyers looking to purchase in Mesa throughout the rest of this year.
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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