Navi Title Agency
Mesa, AZ 85203
Single-Family Homes
Here is your weekly Market Update!
Mesa, AZ 85203
Fri Jun 02 2023
This week the median list price for Mesa, AZ 85203 is $729,000 with the market action index hovering around 69. This is an increase over last month's market action index of 67. Inventory has increased to 16.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Real-Time Market Profile
| Median List Price | $729,000 | |
| Median Price of New Listings | $550,000 | |
| Per Square Foot | $262 | |
| Average Days on Market | 73 | |
| Median Days on Market | 35 | |
| Price Decreased | 38% | |
| Price Increased | 0% | |
| Relisted | 6% | |
| Inventory | 16 | |
| Median Rent | ||
| Market Action | 69 | |
| Strong Seller's Market | ||
You can see that prices in this zip code are marching upward and that we’re getting close to the market’s all time high. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $1,363,450 | 4,444 | 1 - 2.5 acres | 4 | 4 | 33 | 1 | 1 | 112 |
| $924,500 | 3,518 | 0.25 - 0.5 acre | 4 | 2.8 | 32 | 0 | 0 | 49 |
| $597,500 | 2,206 | 8,000 - 10,000 sqft | 4 | 2.3 | 34 | 1 | 4 | 17 |
| $442,500 | 2,115 | 0.25 - 0.5 acre | 3 | 2 | 64 | 1 | 1 | 28 |