Mesa AZ Real Estate Housing Market Report - September 2021
After reaching a new all-time high of $501,007 for August, the average sales price of Mesa homes decreased to $491,207. This is the first time average home prices in Mesa have decreased this year, 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 five straight months, increasing from $244/sf in August to $250/sf in September.
After decreasing to an all-time low of 20 days on market in June, and increasing over the last two months to 25 DOM in August, the DOM for Mesa in September decreased back down to 24. This is the seventh straight month Mesa DOM has been at or under 25, which is extremely low, and means that homes in Mesa, AZ are still selling very fast!
After decreasing to an all-time low of 20 days on market in June, and increasing over the last two months to 25 DOM in August, the DOM for Mesa in September decreased back down to 24. This is the seventh straight month Mesa DOM has been at or under 25, which is extremely low, and means that homes in Mesa, AZ are still selling very fast!
After increasing to 641 in August, Mesa home sales decreased to 619 in September. Home sales in Mesa are higher than in September of 2018 and 2019, but lower than last year by -14.4%. In January through May of 2020 the housing market stalled due to COVID-19, but by June of 2020, the housing market was back in business, and people started buying and selling homes again (see graph below).
The number of new listings has remained over 725 for the last seven months, even though it has decreased the last two months, down to 730 for September. This is significantly higher than in 2018 and 2019, but a -7.1% difference from September 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 continues to increase from 1,263 in August to 1,278 in September. This is at least the fifth straight month that active listings in Mesa have increased. Since active listings have continued to increase, the number of active listings in Mesa is now greater than in September of 2020 by 1.6%. For the second straight month this year, there are more Mesa homes being listed for sale than compared to the same month last year.
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 24.4% since September 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.
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 continues to increase from 1,263 in August to 1,278 in September. This is at least the fifth straight month that active listings in Mesa have increased. Since active listings have continued to increase, the number of active listings in Mesa is now greater than in September of 2020 by 1.6%. For the second straight month this year, there are more Mesa homes being listed for sale than compared to the same month last year.
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 24.4% since September 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.
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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