Is Mesa, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Mesa has remained a Seller's Market.
Housing Prices in Mesa, AZ
How much do homes in Mesa, AZ cost?
Median Sold Price
$440,307
$262/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Mesa was $440,307 in February 2024, down 2.2% from last year, and the median price per square foot was $262.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $215K | $214.5K | -0.2% |
2 Bedrooms | $335K | $325K | -3.0% |
3 Bedrooms | $440.5K | $430K | -2.4% |
4 Bedrooms | $553.5K | $549.9K | -0.6% |
5+ Bedrooms | $736.4K | $700K | -4.9% |
Summary: Mesa housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.2%, 2 bedroom homes decreased by 3%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes decreased by 4.9%.
Median Sold Price Compared To Nearby Cities
Apache Junction | $388.2K | $387.6K | -0.1% |
Chandler | $526.6K | $516.8K | -1.9% |
Mesa | $449.9K | $440.3K | -2.2% |
Gilbert | $579.6K | $560K | -3.4% |
Housing Supply in Mesa, AZ
How many homes are available in Mesa, AZ?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
1,792 | 1,925 | +7.4% |
Summary: The Mesa real estate market had 1,925 homes for sale in February 2024, a 7.4% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 28 | 39 | +39.3% |
2 Bedrooms | 465 | 510 | +9.7% |
3 Bedrooms | 677 | 708 | +4.6% |
4 Bedrooms | 441 | 473 | +7.3% |
5+ Bedrooms | 181 | 195 | +7.7% |
Summary: The Mesa housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 39.3%, 2 bedroom homes increased by 9.7%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
351 | 437 | +24.5% |
Asking Price vs. Sold Price
246 Homes Were Sold
Under Asking
128 Homes Were Sold
At Asking
63 Homes Were Sold
Over Asking
Summary: A total of 437 homes were sold or pending in Mesa in February 2024, up by 24.5% month-over-month. Of the 437 sold homes, 56% were sold under asking, 29% were sold at asking, and 14% were sold over asking.
Days on Market for Mesa, AZ
How long does it take to sell a home in Mesa, AZ?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
70 Days | 59 Days | -15.5% |
Summary: Homes in Mesa had an average of 59 days on market in Feb 2024, down by 15.5% compared to last year.
Breakdown of Home Sale Times
155 Homes Were Sold
Under 30 Days
177 Homes Were Sold
In 30 - 90 Days
105 Homes Were Sold
Over 90 Days
Summary: During February 2024, 437 homes were sold in Mesa; 35% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.