Mesa AZ Real Estate Housing Market Report - November 2021
After reaching a new all-time high of $501,105 for August, the average sales price of Mesa homes decreased to $485,190 in November. After a slight increase in October, this is the second month in the last four months that average home prices in Mesa have decreased. Prior to this, average home prices increased in Mesa for 9 straight months. Even though the average sales price decreased in November, the price per square foot has either remained the same, or has continued to climb for at least 23 consecutive months. November pricing per square foot remained the same as October, with an average sold price of $251/sf.
The DOM for Mesa in November remained the same as October, at 28 DOM. This is the second month in a row that Mesa DOM has been over 25, and the highest it has been since it was 33 DOM back in February of this year. The days on market is still extremely low for Mesa, and means that homes in Mesa, AZ are still selling very fast!
The DOM for Mesa in November remained the same as October, at 28 DOM. This is the second month in a row that Mesa DOM has been over 25, and the highest it has been since it was 33 DOM back in February of this year. The days on market is still extremely low for Mesa, and means that homes in Mesa, AZ are still selling very fast!
After decreasing the last two months, Mesa home sales saw a nice increase for November, bouncing back up to 640 homes sold. This is not quite as high as home sales in November of last year (708), but it blows away the Mesa home sales from November of 2018 (517) and 2019 (505). Because 2020 was such a unique year due to COVID-19, home sales are lower than November of last year by -9.6%.
The number of new listings for November has now dropped below 600, after being over 725 between March and September of this year. This is the fourth decrease in a row after reaching a 2021 high of 755 new listings in July. New listings in Mesa are down to 585 for November, and even though that is a significant drop, it is a 1.2% increase from November of last year. This is due to the seasonal cycle of real estate in Arizona, and the fact that fewer homes are listed during the winter months.
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 decreased from 897 in October to 840 in November. This is the second decrease in a row, and only the second decrease in Mesa home inventory since March of this year (after increasing for five straight months). Since active listings in Mesa have decreased, the number of active listings in Mesa is now less than in November of 2020 by -6.8%. To represent how low Mesa inventory is right now, the current inventory of homes for sale is down -40.1% from November of 2018.
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 25.9% since November of 2020. With interest rates remaining slightly above 3.0%, there still should be more buyers looking to purchase in Mesa throughout the rest of this year.
The number of new listings for November has now dropped below 600, after being over 725 between March and September of this year. This is the fourth decrease in a row after reaching a 2021 high of 755 new listings in July. New listings in Mesa are down to 585 for November, and even though that is a significant drop, it is a 1.2% increase from November of last year. This is due to the seasonal cycle of real estate in Arizona, and the fact that fewer homes are listed during the winter months.
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 decreased from 897 in October to 840 in November. This is the second decrease in a row, and only the second decrease in Mesa home inventory since March of this year (after increasing for five straight months). Since active listings in Mesa have decreased, the number of active listings in Mesa is now less than in November of 2020 by -6.8%. To represent how low Mesa inventory is right now, the current inventory of homes for sale is down -40.1% from November of 2018.
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 25.9% since November of 2020. With interest rates remaining slightly above 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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