Mesa, AZ

The ZIP code is experiencing accelerated market conditions. A notable decrease in active listings and a significant rise in the pending ratio indicate strengthening demand relative to available supply. Price metrics show slight downward adjustments, yet overall market momentum suggests increased activity.

Active listings have contracted by 18.7% over the past year, while new listings remained stable year-over-year. The pending ratio has increased by 15.4% over the past year, reaching 0.54. Median listing price declined by 1.1% over the past year, and the median price per square foot decreased by 2.4% during the same period. Median days on market saw a modest increase of 4.8% year-over-year, to 55 days. The share of price-reduced listings decreased by 12.9% over the past year, now standing at 21.4%.

The contracting active listing inventory and a rising pending ratio suggest an accelerating market where available properties are moving through the pipeline at a faster pace. This dynamic limits options for prospective purchasers and reduces their leverage to negotiate aggressively on price or terms. The decrease in price-reduced listings further underscores this shift, suggesting that more properties are finding buyers closer to their original asking prices.

The average listing price of $427,919 exceeds the median listing price of $407,450 by $20,469, indicating a segment of properties listed at higher values. The median price per square foot is $273.