85213 Mesa, AZ Housing Market

Trend

The median listing price in ZIP 85213 increased by a notable 12.0% month-over-month to reach $674,950, despite a year-over-year decline of 10.0%. Active listings have contracted by 18.2% year-over-year to 81 units, with new listings also seeing a modest 7.7% year-over-year decrease. The median days on market have fallen by 15.2% year-over-year to 45 days, indicating a quicker absorption of available properties. The pending ratio stands at 0.59, a 14.8% increase year-over-year, which suggests a growing pipeline of sales relative to active inventory.

Negotiating leverage

The acceleration in price and decline in days on market suggest increased activity and competition. The rising pending ratio points to mounting inventory pressure, requiring greater price discipline from those seeking to acquire property in this ZIP code.

Luxury segment

The average listing price of $864,148 significantly exceeds the median listing price of $674,950, indicating a segment of higher-value properties influencing the market. The median price per square foot is $280.