Mesa AZ Real Estate Housing Market Report - June 2021
The average sales price of Mesa homes increased by $9,642, reaching another new all-time high of $481,1767 for June. At the same time, the price per square foot has continued to climb, increasing from $230/sf in May to $234/sf in June.
After increasing the last two months (from a record low of 21 days on market in March) to 23 DOM in May, June saw a decrease in DOM to a new all-time low of 20. This is extremely low, and means that homes in Mesa, AZ are selling very fast!
After increasing the last two months (from a record low of 21 days on market in March) to 23 DOM in May, June saw a decrease in DOM to a new all-time low of 20. This is extremely low, and means that homes in Mesa, AZ are selling very fast!
Mesa home sales have been fairly consistent the last three months, and remained at 664 for June, the same number of Mesa home sales as in May. However, home sales in Mesa are lower than in June of last year by -8.2%, 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 getting going again, and people started buying and selling homes again (see graph below).
The number of new listings dropped for the second straight month, from 739 in April to 702 in June, but is still a 10.0% increase from June 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 1,062 in May to 1,108 in June, but still remains lower than last year, with -12.0% fewer Mesa homes 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 30.3% since June of 2020. With interest rates dropping below 3.0%, there still should be more buyers looking to purchase in Mesa throughout 2021.
The lack of listings continues to drive demand and home prices higher. Median home values in Mesa have increased an average of 30.3% since June of 2020. With interest rates dropping below 3.0%, there still should be more buyers looking to purchase in Mesa throughout 2021.
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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