Mesa Real Estate Market Reports:
Mesa, Arizona Home Sales Prices: |
Click image below to enlarge!
2023
The median sales price in Mesa increased to start the new year but is still lower that what it started at in January of last year. It has trended slightly higher in 2023.
2022
The median sales price in Mesa saw a nice increase in January to start off 2022. There was a dip in February, but more increases in March, April, and May. June saw the second decrease this year, and July was the first time there were consecutive decreases in the median sales price of Mesa homes since November and December of 2019. December saw the seventh decrease in a row for Mesa median home prices. The median sales price of Mesa homes is now -3.8% lower than in December of 2021.
2021
The median sales price in Mesa increased in January to an all-time high, starting 2021 on a positive note. As inventory remains incredibly low, and buyer demand remains very strong, home prices in Mesa are expected to continue to increase and may even increase more than they did in 2020. It's difficult to know how long this frenzied demand for homes can continue, but as long as there is a lack of homes for sale, prices will increase. July saw the first decrease in median sales prices in Mesa since November of 2020 (when the median sales price dropped $500). Mesa median sales prices have remained the same or increased in 18 out of the last 22 months. This led to a new all-time high of $440,000 in August, but then it dropped in September (the second decrease in the last 3 months). October and November both saw minor increases in the median sales price, and December bounced back up to an all-time high of $452,000. Overall, the Mesa median sales price has increased 29.1% since December of 2020.
The median sales price in Mesa increased to start the new year but is still lower that what it started at in January of last year. It has trended slightly higher in 2023.
2022
The median sales price in Mesa saw a nice increase in January to start off 2022. There was a dip in February, but more increases in March, April, and May. June saw the second decrease this year, and July was the first time there were consecutive decreases in the median sales price of Mesa homes since November and December of 2019. December saw the seventh decrease in a row for Mesa median home prices. The median sales price of Mesa homes is now -3.8% lower than in December of 2021.
2021
The median sales price in Mesa increased in January to an all-time high, starting 2021 on a positive note. As inventory remains incredibly low, and buyer demand remains very strong, home prices in Mesa are expected to continue to increase and may even increase more than they did in 2020. It's difficult to know how long this frenzied demand for homes can continue, but as long as there is a lack of homes for sale, prices will increase. July saw the first decrease in median sales prices in Mesa since November of 2020 (when the median sales price dropped $500). Mesa median sales prices have remained the same or increased in 18 out of the last 22 months. This led to a new all-time high of $440,000 in August, but then it dropped in September (the second decrease in the last 3 months). October and November both saw minor increases in the median sales price, and December bounced back up to an all-time high of $452,000. Overall, the Mesa median sales price has increased 29.1% since December of 2020.
Mesa, Arizona Home Sales:
Click image below to enlarge!
2023
January of 2023 saw a decrease in Mesa home sales, but that is typical for the first of the year as January home sales have decreased every year since at least 2019. Mesa home sales continue to fall below the level over the last 4 years.
2022
Mesa home sales saw a large decline in January to start off 2022. However, there has been a pretty significant decline in January of each of the last four years. January 2022 home sales in Mesa are higher than they were in 2019 and 2020, but lower than January of last year. Home sales in Mesa increased in February and March, and in March Mesa saw the largest number of home sales in a month since September of 2020. April saw a decline in Mesa home sales and May saw a slight increase. June and July have seen declines in Mesa home sales. August and September both saw a slight increase in home sales. October and November saw declines in Mesa home sales to the lowest number since before 2018. December saw a nice increase, but overall, still ended the year very low.
2021
Mesa homes sales by month started off 2021 significantly higher than it started in 2020. Although home sales really picked up the last four months of 2020, the continued lack of inventory has slowed the number of homes sold in Mesa. February saw a nice increase in the number of homes sold, higher than in the previous three years. March saw another nice increase, but April saw a slight decrease in Mesa home sales. May saw a small increase in the number of Mesa homes sold, but not anywhere near the numbers seen back in 2018 and 2019. Obviously, the shortage of homes for sale has something to do with the low number of Mesa home sales. June remained almost exactly the same as May, which is actually close to the number of homes sold in Mesa back in June of 2018 (672), and 2019 (678). Both of those years saw a drop in Mesa home sales. July saw a decrease in Mesa home sales, which is typical this time of year, while August saw an increase. This may be the last increase we see, as the high buying season starts to slow heading into the fall. September saw a slight decrease, and October decreased again. However, November saw a significant increase in the number of Mesa homes sold, and December saw a slight decrease to end the year at 635. Mesa home sales in December ended much higher than in 2018 and 2019, but not quite as high as 2020.
January of 2023 saw a decrease in Mesa home sales, but that is typical for the first of the year as January home sales have decreased every year since at least 2019. Mesa home sales continue to fall below the level over the last 4 years.
2022
Mesa home sales saw a large decline in January to start off 2022. However, there has been a pretty significant decline in January of each of the last four years. January 2022 home sales in Mesa are higher than they were in 2019 and 2020, but lower than January of last year. Home sales in Mesa increased in February and March, and in March Mesa saw the largest number of home sales in a month since September of 2020. April saw a decline in Mesa home sales and May saw a slight increase. June and July have seen declines in Mesa home sales. August and September both saw a slight increase in home sales. October and November saw declines in Mesa home sales to the lowest number since before 2018. December saw a nice increase, but overall, still ended the year very low.
2021
Mesa homes sales by month started off 2021 significantly higher than it started in 2020. Although home sales really picked up the last four months of 2020, the continued lack of inventory has slowed the number of homes sold in Mesa. February saw a nice increase in the number of homes sold, higher than in the previous three years. March saw another nice increase, but April saw a slight decrease in Mesa home sales. May saw a small increase in the number of Mesa homes sold, but not anywhere near the numbers seen back in 2018 and 2019. Obviously, the shortage of homes for sale has something to do with the low number of Mesa home sales. June remained almost exactly the same as May, which is actually close to the number of homes sold in Mesa back in June of 2018 (672), and 2019 (678). Both of those years saw a drop in Mesa home sales. July saw a decrease in Mesa home sales, which is typical this time of year, while August saw an increase. This may be the last increase we see, as the high buying season starts to slow heading into the fall. September saw a slight decrease, and October decreased again. However, November saw a significant increase in the number of Mesa homes sold, and December saw a slight decrease to end the year at 635. Mesa home sales in December ended much higher than in 2018 and 2019, but not quite as high as 2020.
Mesa, AZ Home Inventory:
2023
Mesa home inventory continues to decrease in 2023. This is the 9th month in a row that inventory in Mesa has decreased.
2022
Mesa home inventory dropped from December of 2021 to January of 2022. This typically happens in January due to the cyclical pattern of the Arizona real estate market, and it has occurred in January over the previous two years as well. As of March, home inventory in Mesa had decreased for five months in a row, since November of 2021. April saw a very slight increase in Mesa home inventory for the first time in 2022, followed up by much larger increases in May, June, July, and August. September and October both increased for a total of seven straight increases in home inventory for Mesa, AZ. November and December saw a decrease in home inventory as fewer homeowners are putting their homes up for sale during the winter months.
2021
The home inventory in Mesa remains low and started 2021 much lower than it ended in 2020. With demand so high, hopefully more homes will be listed for sale this year. February and March saw a decrease in the number of Mesa homes for sale to an all-time low of 619. April through July has seen a four-month gradual increase in home inventory, and then August remained the same. September saw another increase in the home inventory for Mesa, and October saw a slight decrease for the first time since March of this year. November and December both saw a decrease in Mesa home inventory to end the year. This is probably just a cyclical thing, as we near the end of the year. Mesa home inventory is still 19.8% lower than it was in October of 2019 (pre-COVID).
With the average number of Mesa homes sold in the last 6 months increasing to 463, and the inventory of homes decreasing from 770 to 723, this gives us a decreasing absorption rate of 1.56 months. This absorption rate is still reflecting a sellers' market. Any absorption rate below 6.0 is considered a sellers' market.
Mesa home inventory continues to decrease in 2023. This is the 9th month in a row that inventory in Mesa has decreased.
2022
Mesa home inventory dropped from December of 2021 to January of 2022. This typically happens in January due to the cyclical pattern of the Arizona real estate market, and it has occurred in January over the previous two years as well. As of March, home inventory in Mesa had decreased for five months in a row, since November of 2021. April saw a very slight increase in Mesa home inventory for the first time in 2022, followed up by much larger increases in May, June, July, and August. September and October both increased for a total of seven straight increases in home inventory for Mesa, AZ. November and December saw a decrease in home inventory as fewer homeowners are putting their homes up for sale during the winter months.
2021
The home inventory in Mesa remains low and started 2021 much lower than it ended in 2020. With demand so high, hopefully more homes will be listed for sale this year. February and March saw a decrease in the number of Mesa homes for sale to an all-time low of 619. April through July has seen a four-month gradual increase in home inventory, and then August remained the same. September saw another increase in the home inventory for Mesa, and October saw a slight decrease for the first time since March of this year. November and December both saw a decrease in Mesa home inventory to end the year. This is probably just a cyclical thing, as we near the end of the year. Mesa home inventory is still 19.8% lower than it was in October of 2019 (pre-COVID).
With the average number of Mesa homes sold in the last 6 months increasing to 463, and the inventory of homes decreasing from 770 to 723, this gives us a decreasing absorption rate of 1.56 months. This absorption rate is still reflecting a sellers' market. Any absorption rate below 6.0 is considered a sellers' market.
How inventory affects home prices:
When the inventory of homes in Mesa increases, the economics of supply and demand will take effect. When there is a large inventory of homes available for sale in Mesa, home prices will decrease in value for a couple of reasons. One reason is because there are more homes for Mesa home buyers to choose from. Buyers will take their time in selecting a home, causing homes to stay on the market longer and increasing inventory. Because there are more Mesa homes for sale, home sellers will begin to lower their sales price in order to get their home sold.
When the inventory of homes in Mesa decreases, you will start to see an increase in home prices. With a low inventory of homes, Mesa home sellers know that they can ask a higher price because there are more buyers in the market than homes for sale. Homes tend to sell faster, and for more money when inventory is low. There are fewer choices for Mesa home buyers, and sometimes you will have to offer a higher than list price to get the home you want.
When the inventory of homes in Mesa decreases, you will start to see an increase in home prices. With a low inventory of homes, Mesa home sellers know that they can ask a higher price because there are more buyers in the market than homes for sale. Homes tend to sell faster, and for more money when inventory is low. There are fewer choices for Mesa home buyers, and sometimes you will have to offer a higher than list price to get the home you want.
Mesa Days On Market:
Click image below to enlarge!
2023
Mesa days on market shot up in January to start the new year, for the 8th straight increase. It has remained high this year but has decreased the last 4 months in a row.
2022
Mesa days on market moved from 31 in December of 2021 up to 32 DOM to start off January of 2022. The DOM had consistently been increasing up to January of 2022, since reaching an all-time low of 20 DOM in June of 2021. The Mesa DOM decreased four straight months, going from 32 in January down to 21 for May. June through December has seen seven straight increases in DOM up to 61 DOM.
2021
Days on market to sell a home in Mesa remained the same in January as it ended in 2020, at 34. This is the lowest DOM for January in the last 4 years and is due to continued high demand and the low inventory of Mesa homes for sale. The days on market dropped in February, then dropped to a new all-time low of 21 in March, as competition for homes in Mesa remains extreme. April saw an increase in DOM for the first time this year, and May saw another slight increase in DOM, up to 23. June saw a decrease in days on market for Mesa homes, back down to a new all-time low of 20 DOM. July and August both saw slight increases bringing the DOM up to 25, which is still significantly low. September days on market dropped to 24, while October saw an increase to 28, the highest the DOM has been since February of this year. November remained at 28 DOM, and December saw and increase up to 31 DOM. This was the fifth out of the last six months that DOM has either stayed the same or increased.
Mesa days on market shot up in January to start the new year, for the 8th straight increase. It has remained high this year but has decreased the last 4 months in a row.
2022
Mesa days on market moved from 31 in December of 2021 up to 32 DOM to start off January of 2022. The DOM had consistently been increasing up to January of 2022, since reaching an all-time low of 20 DOM in June of 2021. The Mesa DOM decreased four straight months, going from 32 in January down to 21 for May. June through December has seen seven straight increases in DOM up to 61 DOM.
2021
Days on market to sell a home in Mesa remained the same in January as it ended in 2020, at 34. This is the lowest DOM for January in the last 4 years and is due to continued high demand and the low inventory of Mesa homes for sale. The days on market dropped in February, then dropped to a new all-time low of 21 in March, as competition for homes in Mesa remains extreme. April saw an increase in DOM for the first time this year, and May saw another slight increase in DOM, up to 23. June saw a decrease in days on market for Mesa homes, back down to a new all-time low of 20 DOM. July and August both saw slight increases bringing the DOM up to 25, which is still significantly low. September days on market dropped to 24, while October saw an increase to 28, the highest the DOM has been since February of this year. November remained at 28 DOM, and December saw and increase up to 31 DOM. This was the fifth out of the last six months that DOM has either stayed the same or increased.
Days on market (DOM) is a measure of the age of a real estate listing. It is the total number of days a listing is on the active market before an offer is accepted on the property, or an agreement between the real estate broker and home seller ends. The higher the days on market, the longer it is taking for homeowners to sell their Mesa home. The lower the days on market, the faster a Mesa home is receiving a purchase contract and getting off the market.
Generally, properties with a longer DOM will command lower prices than properties with a shorter DOM because a perception exists that the property may be overpriced or less desirable the longer it remains on the market. DOM often factors into developing a pricing strategy. DOM can also be used to gauge the condition, or trend of the housing market. Previous history has shown that a fairly stable real estate market in Mesa should have average days on the market somewhere between 60 and 90 days.
Generally, properties with a longer DOM will command lower prices than properties with a shorter DOM because a perception exists that the property may be overpriced or less desirable the longer it remains on the market. DOM often factors into developing a pricing strategy. DOM can also be used to gauge the condition, or trend of the housing market. Previous history has shown that a fairly stable real estate market in Mesa should have average days on the market somewhere between 60 and 90 days.
Mesa New Listings by Month:
Click image below to enlarge!
2023
New listings in Mesa shot up to start 2023, but they are still lower than the previous 4 years. New listings have remained low each month in 2023.
2022
The number of new listings in Mesa climbed up to start off January of 2022, after decreasing six straight months from July through December of 2021. There was a decrease in new listings in February, but the number of new listings in Mesa shot back up in March. April saw another decrease in new Mesa listings. May and June saw the number of new listings in Mesa climb back up again while July dropped back down. December is the sixth straight month there has been a decrease in new listings. The number of new listings is now lower than it has been in December of the previous four years.
2021
The number of new listings in Mesa jumped in January to start off the new year, but this is the typical pattern in the real estate cycle. The number of new listings in January of this year was still significantly lower than it was in 2018 and 2019. There has been a lack of listings in Mesa over the last two plus years, and it looks like it is going to continue in 2021. The number of new Mesa listings increased in February through April, rising to a high of 739, and getting much closer to 2018 and 2019 numbers. The number of new Mesa listings slightly decreased in May and increased a little in June. July saw another small increase in new listings, to a 2021 high of 755. This is the highest number of new listings for July over the last 4 years. This is not common to see an increase in new listings this time of year, since we are approaching fall, when the high buying season normally begins to slow down. August and September saw small decreases in new Mesa listings, but new listings have remained over 725 for seven straight months now, which has not been done before. October finally saw a drop in new listings below 700, while November dropped below 600, and December dropped down to 526 to end the year. The number of new Mesa listings ended 2021 higher than in the previous three years.
New listings in Mesa shot up to start 2023, but they are still lower than the previous 4 years. New listings have remained low each month in 2023.
2022
The number of new listings in Mesa climbed up to start off January of 2022, after decreasing six straight months from July through December of 2021. There was a decrease in new listings in February, but the number of new listings in Mesa shot back up in March. April saw another decrease in new Mesa listings. May and June saw the number of new listings in Mesa climb back up again while July dropped back down. December is the sixth straight month there has been a decrease in new listings. The number of new listings is now lower than it has been in December of the previous four years.
2021
The number of new listings in Mesa jumped in January to start off the new year, but this is the typical pattern in the real estate cycle. The number of new listings in January of this year was still significantly lower than it was in 2018 and 2019. There has been a lack of listings in Mesa over the last two plus years, and it looks like it is going to continue in 2021. The number of new Mesa listings increased in February through April, rising to a high of 739, and getting much closer to 2018 and 2019 numbers. The number of new Mesa listings slightly decreased in May and increased a little in June. July saw another small increase in new listings, to a 2021 high of 755. This is the highest number of new listings for July over the last 4 years. This is not common to see an increase in new listings this time of year, since we are approaching fall, when the high buying season normally begins to slow down. August and September saw small decreases in new Mesa listings, but new listings have remained over 725 for seven straight months now, which has not been done before. October finally saw a drop in new listings below 700, while November dropped below 600, and December dropped down to 526 to end the year. The number of new Mesa listings ended 2021 higher than in the previous three years.
Check Out Our Housing Reports in Other East Valley Cities:
"Real Estate is not just a job for me, it's about making a difference in the lives of others"
Troy Erickson Realtor - Representing Buyers, Sellers, and Investors in the Phoenix East Valley:
Chandler, Sun Lakes, Ocotillo, Ahwatukee, Gilbert, Tempe, Mesa, Queen Creek, San Tan Valley, Scottsdale, Phoenix, and more!
Chandler, Sun Lakes, Ocotillo, Ahwatukee, Gilbert, Tempe, Mesa, Queen Creek, San Tan Valley, Scottsdale, Phoenix, and more!
