Mesa AZ Real Estate Housing Market Report - October 2021
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!
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.
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.