Mesa, AZ

The housing market in ZIP Code 85210 is currently Cooling. The pending ratio stands at 0.27, indicating a significant decrease in buyer activity year-over-year. While the median listing price shows a modest month-over-month increase, the year-over-year trend is slightly negative, alongside an increase in active listings and a relatively high price-reduced share.

The most recent data for ZIP Code 85210 indicates a cooling trajectory. The median listing price, currently $389,000, has experienced a minor month-over-month increase of 1.6% but registers a marginal decline of -0.2% over the past year. Active listings have increased by 9.1% year-over-year to 60, while new listings remain stable with no year-over-year change. Median days on market decreased by 5.0% year-over-year to 57 days. The pending ratio, at 0.27, represents a substantial -24.2% decrease from the prior year, suggesting a notable reduction in immediate transaction volume. Concurrently, the price-reduced share is 34.8%, an increase of 2.5% year-over-year.

The reduced pending ratio, coupled with increased active listings and a significant price-reduced share, suggests a shift in negotiating leverage. The market pace has decelerated, leading to less inventory pressure and an environment where price discipline from sellers is increasingly critical to secure transactions. Buyers are presented with more opportunities for deliberation.

The average listing price of $378,238 is slightly below the median listing price of $389,000, indicating that higher-priced listings are not disproportionately skewing the market averages upwards. The median price per square foot is $262, reflecting a -2.6% year-over-year decline.