Is Mesa, AZ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mesa is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Mesa has remained a Seller's Market.

Key Takeaway

Mesa is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

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

-$9,682(-2.2%)

Key Takeaway

Homes in Mesa have sold for 2.2% less than they did a year ago.

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

# BEDSFeb 2023Feb 2024CHANGE
1 $215K$214.5K
-0.2%
2 $335K$325K
-3.0%
3 $440.5K$430K
-2.4%
4 $553.5K$549.9K
-0.6%
5+ $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
-0.1%
Chandler
-1.9%
Mesa
-2.2%
Gilbert
-3.4%

Housing Supply in Mesa, AZ

How many homes are available in Mesa, AZ?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1,7921,925+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

# BEDSJan 2024Feb 2024CHANGE
1 2839
+39.3%
2 465510
+9.7%
3 677708
+4.6%
4 441473
+7.3%
5+ 181195
+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 2024Feb 2024CHANGE
351437+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mesa, you may be able to get a good deal. 56.3% of homes here sold below asking price last month.

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 2023Feb 2024CHANGE
70 Days59 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

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Mesa has remained consistent over time.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 18 Days Ago

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