Mesa AZ Real Estate Housing Market Report - October 2021
After reaching a new all-time high of $501,105 for August, the average sales price of Mesa homes decreased to $491,353 in September and decreased again to $491,167 in October. Although it was a small decrease month-over-month, this is the second month in a row that average home prices in Mesa have decreased, after nine straight months of seeing the average sales price of Mesa homes increase. Even though the average sales price decreased, the price per square foot has continued to climb for at least six straight months, increasing from $250/sf in September to $251/sf in October.
After decreasing to 24 DOM in September, the DOM for Mesa in October increased back up to 28. This is the first month Mesa DOM has been over 25 since February, after being at or under 25 DOM for seven straight months. This is still extremely low, and means that homes in Mesa, AZ are still selling very fast!
After decreasing to 24 DOM in September, the DOM for Mesa in October increased back up to 28. This is the first month Mesa DOM has been over 25 since February, after being at or under 25 DOM for seven straight months. This is still extremely low, and means that homes in Mesa, AZ are still selling very fast!
After increasing to 641 in August, Mesa home sales has decreased for the second straight month down to 568 in October. This is the lowest number of October homes sales in the last four years, and is lower than October of last year by -19.1%.
The number of new listings has dropped below 700, after being over 725 for the last seven months. This is the third decrease in a row, after reaching a 2021 high of 755 new listings in July. New listings in Mesa are down to 680 for October, and it is a -13.4% difference from October 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 decreased from 897 in September to 882 in October. This is the first 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 October of 2020 by -11.6%. Inventory in Mesa is down 37.6% from October 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 25.0% since October of 2020. With interest rates remaining near 3.0%, there still should be more buyers looking to purchase in Mesa throughout the rest of this year.
The number of new listings has dropped below 700, after being over 725 for the last seven months. This is the third decrease in a row, after reaching a 2021 high of 755 new listings in July. New listings in Mesa are down to 680 for October, and it is a -13.4% difference from October 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 decreased from 897 in September to 882 in October. This is the first 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 October of 2020 by -11.6%. Inventory in Mesa is down 37.6% from October 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 25.0% since October of 2020. With interest rates remaining near 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.
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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