RealTrends Market Report

Mesa, AZ

Single-Family Homes

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Mesa, AZ

Mon Jun 24 2024
This week the median list price for Mesa, AZ is $560,000 with the market action index hovering around 48. This is less than last month's market action index of 49. Inventory has increased to 772. Click here to stay informed with the Mesa market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Mesa, AZ

Mon Jun 24 2024
This week the median list price for Mesa, AZ is $560,000 with the market action index hovering around 48. This is less than last month's market action index of 49. Inventory has increased to 772. Click here to stay informed with the Mesa market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Mesa market.
Median List Price $560,000
Median Price of New Listings $499,249
Per Square Foot $279
Average Days on Market 56
Median Days on Market 35
Price Decreased 51%
Price Increased 6%
Relisted 6%
Inventory 772
Median Rent
Market Action 48
Strong Seller's Market

The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.

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
$900,000 3,314 0.25 - 0.5 acre 4 4 13 16 17 49
$624,900 2,276 6,500 - 8,000 sqft 4 3 17 22 16 49
$502,000 1,797 6,500 - 8,000 sqft 3 2 27 36 18 21
$399,000 1,486 6,500 - 8,000 sqft 3 2 44 36 39 35