85206 Mesa, AZ Housing Market

Trend

The median listing price in 85206 experienced a modest monthly decline of 1.9% and a more significant year-over-year decrease of 4.1%. Concurrently, the average listing price saw a 6.7% year-over-year decline. Active listings remained flat year-over-year, yet new listings increased by 20.0% year-over-year, contributing to a stable total listings count of 180. The pending ratio stands at 0.49, an 8.4% increase year-over-year, suggesting some upward movement in demand relative to supply. Median days on market saw a slight year-over-year increase of 3.5% to 60 days, while the share of price-reduced listings rose by 4.7% year-over-year to 26.5%, indicating some market resistance to current pricing.

Negotiating leverage

The uptick in new listings and the increase in the price-reduced share indicate that property owners are adjusting their pricing expectations, suggesting a reduction in immediate inventory pressure. While the pending ratio has strengthened year-over-year, the overall pace of transactions may be moderating, contributing to more disciplined pricing and negotiation opportunities for prospective purchasers.

Luxury segment

The spread between the median listing price of $342,500 and the average listing price of $375,999 indicates a segment of the market with higher-priced properties. The median price per square foot is $245, showing a 3.1% year-over-year decline in this metric.