85204 Mesa, AZ Housing Market

Trend

The median listing price, at $431,998, indicates a 2.1% increase year-over-year, despite a 2.9% month-over-month decrease. Active listings have risen by 19.4% year-over-year to 74, suggesting an increase in available housing. Concurrently, new listings saw an 18.2% year-over-year decline to 36. The median days on market increased by 9.1% year-over-year to 42 days, while the share of price-reduced listings decreased by 7.3% year-over-year to 23.7%. The pending ratio is 0.68, representing a 13.1% year-over-year decrease.

Negotiating leverage

The year-over-year increase in active listings, coupled with a notable decline in new listings, suggests a slight easing of inventory pressure, although pending activity remains robust. The extended median days on market and the decline in new listings may offer some buyers increased flexibility while encouraging more disciplined pricing strategies from sellers.

Luxury segment

The average listing price of $450,898 is above the median listing price of $431,998, indicating a segment of higher-priced properties within the market. The median price per square foot is $277, showing a marginal year-over-year decrease of 0.8%.