85212 Mesa, AZ Housing Market

Trend

Median listing price has seen a slight monthly decline of 1.5% and a negligible year-over-year decrease of 0.1%. Active listings are down 20.0% year-over-year, yet new listings have increased by 22.7% over the same period. Median days on market decreased by 7.0% year-over-year to 53 days. The price-reduced share stands at 37.0%, a 7.2% year-over-year decrease. The pending ratio is stable at 0.44, representing a 0.1% year-over-year increase.

Negotiating leverage

With a stable pending ratio of 0.44 and a year-over-year decrease in median days on market to 53, the pace of transactions is consistent. The significant increase in new listings coupled with a high price-reduced share suggests that while inventory pressure exists, sellers are adjusting pricing expectations, contributing to a more disciplined market.

Luxury segment

The average listing price of $654,499 materially exceeds the median of $599,450, indicating a segment of higher-value properties within the market. Median price per square foot is $266, experiencing a 2.1% year-over-year decline.