Mesa AZ Real Estate Housing Market Report - May 2021
After increasing by one last month from a record low of 21 in March, days on market in Mesa increased by one again for May, jumping up to 23 DOM. This is still extremely low, and means that homes in Mesa, AZ are selling very fast!
The number of new listings dropped from 739 last month to 715 in May, but is an increase of 23.3% from May 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, at 1,062, still remains significantly lower than last year, with -23.7% fewer Mesa homes for sale compared to May of 2020.
The lack of listings continues to drive demand and home prices higher. Median home values in Mesa have increased an average of 28.2% since May of 2020. With interest rates remaining around 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.
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.