Mesa, AZ
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Brian Adamski, Realtor

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Mesa Market Overview

Houses

Highlights

As of April 14, 2025, the single family homes market in Mesa exhibits notable trends impacting both buyers and sellers.

Active listings have experienced a significant rise, climbing to 1,634 over the past month from 1,243 three months ago.
The average price per square foot for active listings is currently $287, a slight increase compared to earlier periods.
Days on Market (DOM) have also lengthened, sitting at 68 days, indicating a more cautious buyer environment.
With 4.7 months of inventory, the market appears to show signs of balance between supply and demand.

Market Snapshot as of 4.14.2025	Inventory and Pricing
Active Listings:	1,140
Avg Price:	$681,310
Avg Days on Market:	69
Avg Price per Sqft:	$289
Months of Inventory:	4.2

Sold Listings (last mo):	461
Avg Price:	$550,565
Avg Days on Market:	53
Avg Price per Sqft:	$276

Sold Listings (last 3 mos):	1,208
Avg Price:	$547,015
Avg Days on Market:	57
Avg Price per Sqft:	$272

Condos

Highlights

As of April 14, 2025, the condos/townhomes/patio homes market in Mesa is currently displaying some dynamic shifts, indicative of evolving buyer and seller behaviors.

Over the past month, inventory levels have noticeably risen, with 493 active listings, compared to 336 three months ago, pointing towards a more favorable environment for buyers as choices expand.
Meanwhile, the average sold price has increased to $320,681, illustrating sustained buyer interest despite the influx of new listings.
Conversely, the average days on market (DOM) has also risen to 72 days, showing that while inventory is up, properties are taking longer to sell, which is a substantial rise from 87 days three months ago.

Market Snapshot as of 4.14.2025	Inventory and Pricing
Active Listings:	399
Avg Price:	$318,444
Avg Days on Market:	67
Avg Price per Sqft:	$274
Months of Inventory:	5.3

Sold Listings (last mo):	126
Avg Price:	$329,023
Avg Days on Market:	50
Avg Price per Sqft:	$268

Sold Listings (last 3 mos):	300
Avg Price:	$324,704
Avg Days on Market:	52
Avg Price per Sqft:	$268

Land

Highlights

As of April 14, 2025, the land market in Mesa has shown some significant developments recently.

Over the past month, the number of active listings has decreased slightly, now at 49.
In contrast, sold listings have dropped to just 3, with the average sold price at $220,000.
The Days on Market (DOM) has also decreased, suggesting homes are moving more quickly, while the current months of inventory stands at 8.6, indicating a relatively balanced state.

Market Snapshot as of 4.14.2025	Inventory and Pricing
Active Listings:	40
Avg Price:	$788,729
Avg Days on Market:	213
Avg Price per Sqft:	$19
Months of Inventory:	8.3

Sold Listings (last mo):	5
Avg Price:	$406,999
Avg Days on Market:	229
Avg Price per Sqft:	$17

Sold Listings (last 3 mos):	17
Avg Price:	$351,479
Avg Days on Market:	182
Avg Price per Sqft:	$17

Multifamily

Highlights

As of April 14, 2025, the multifamily market in Mesa is showing notable shifts in key metrics that are affecting both buyers and sellers.

Over the past month, the active listings have expanded to 28 from 21 three months ago.
Currently, sold prices have decreased to an average of $497,563, down from $630,000 three months ago, reflecting greater negotiations between buyers and sellers.
Meanwhile, the average Days on Market (DOM) for active listings has increased to 169 days, suggesting that properties are taking longer to sell compared to 216 days three months ago.
The months of inventory now stands at 4.9, indicating a reasonably balanced market.

Market Snapshot as of 4.14.2025	Inventory and Pricing
Active Listings:	22
Avg Price:	$864,850
Avg Days on Market:	176
Avg Price per Sqft:	$318
Months of Inventory:	4.6

Sold Listings (last mo):	7
Avg Price:	$618,214
Avg Days on Market:	76
Avg Price per Sqft:	$235

Sold Listings (last 3 mos):	19
Avg Price:	$652,867
Avg Days on Market:	50
Avg Price per Sqft:	$220

See the Full Market Report

Info About Mesa

Mesa Homes for Sale

Mesa, Arizona, is the third-largest city in Arizona, with a population of just over 509,000 people. This bustling city is home to over 120 defined neighborhoods and possesses a diverse homes for sale covering many price points and types. Whether you are just starting out or downsizing and hope to invest in a modest home or you plan to invest millions in a luxury property, it’s here for you in Mesa.

It’s this abundance of housing options – along with a diverse economy — that attracts many young professionals to the area. Over 40 percent of Mesa residents are between 18 and 44 years old.

Mesa’s Diverse Real Estate

The city of Mesa – due to its long east-to-west span – is commonly divided into East and West Mesa with Center Street being the accepted point where West Mesa becomes East Mesa.

Property values tend to increase as one moves out from the center of Mesa, with the most highly sought-after luxury properties typically found along the city’s outskirts.

Downtown Mesa

Entry-level and affordable housing options for those just starting out or choosing to downsize are found in the area south of the two college campuses in Mesa – the polytechnic branch of Arizona State University and Mesa Community College.

Working in Mesa

Mesa offers many career opportunities across various industries – both blue and white-collar. Banner Health Systems – a nonprofit healthcare provider — is Mesa’s largest employer employing over 8,000 people. The Mesa Public School System is the second-largest employer, and The Boeing Company rounds out the top three.

In addition to these large-scale employers, Mesa has a thriving economy built on various small businesses. Regardless of a person’s skill set, there are opportunities within Mesa.

What to do in Mesa

When it comes to filling the leisure hours, Mesa has plenty to offer. Surrounded by the Sonoran desert with the Superstition Mountains to the east, Mesa is the outdoor enthusiasts’ dream. Whether that involves hiking or riding through the mountains, tackling the desert in an ATV, exploring the Tonto National Forest, or cooling off at one of Mesa’s three recreational lakes, it’s all right here every day of the week.

Mesa Spring Training

Mesa’s cultural and artistic heart is Mesa Arts Center – Arizona’s largest art education center. The Mesa Arts Center is one of the nation’s leading artistic incubators, featuring five separate art galleries, a performing arts center, and a rotating series of installations. Mesa’s appreciation and support of the arts extend beyond just the Arts Center. Mesa’s Main Street is lined with no less than 40 permanent sculptures for everyone to enjoy.

Restaurants and nightspots abound within Mesa. Most are concentrated in the downtown area and around the two campuses along University Drive. Here, visitors and residents can find cuisine from every culture known for their culinary contributions – just another example of Mesa’s appreciation for ethnic diversity. In addition to the restaurants and bars around the downtown area, there are plenty of hidden gems scattered throughout the city.

Mesa Homes for Sale

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Mesa Market Report

Houses Condos Land Multifamily

Houses

Current as of 4.14.2025	Listings	Avg Price	Price per Sqft	Days on Market	Low Price	High Price	order_column
Active	1,140	681,310	289	69	1	9,999,999	1
Under Contract	582	608,744	277	60	200,000	4,100,000	2
Coming Soon	60	581,961	283	0	295,000	1,300,000	3

Sold as of 4.14.2025	Listings	Avg Price	YoY	Price per Sqft	Days on Market	Sold Price to List Price	Sold Price to Orig List Price	Low Price	High Price
Last 3 mos	1,208	547,015	0.0	272	57	98	96	180,000	4,500,000
Last 6 mos	2,206	561,337	0.0	273	52	98	96	180,000	4,500,000
Last 12 mos	4,578	562,282	0.0	275	45	98	96	180,000	5,100,000
2025	1,307	550,517	-2.2	273	57	98	96	180,000	4,500,000
2024	4,621	562,741	5.3	276	43	99	97	208,100	5,100,000
2023	4,715	534,626	-1.6	263	52	99	96	90,000	6,000,000
2022	5,864	543,176	15.7	275	27	100	99	145,000	3,751,000
2021	7,489	469,277	25.3	234	18	102	102	89,000	3,800,000

An In-Depth Look at Mesa Houses

Currently, the Mesa single family homes market presents both opportunities and challenges for prospective buyers and sellers. Over the past month, the number of active listings surged to 1,634, a substantial increase from 1,243 listings three months ago. This uptick is indicative of growing supply in the market, allowing buyers a wider selection. However, with the average days on market (DOM) now at 68, compared to 91 days three months ago, there are signs that homes are taking longer to sell, which can reflect a more discerning buyer mindset.

Moreover, while the average price per square foot for active listings is steady at $287, it still marks an increase from previous periods, implying that sellers might still be benefitting from high demand despite longer selling timelines. The average sold price stands at $554,188 based on recent sales, suggesting some stabilization in pricing despite slight fluctuations.

Looking at the months of inventory, we see a current figure of 4.7, pointing towards a balanced market. This is up from 3.6 months just three months ago, indicating that while demand is robust, inventory levels are catching up, creating a healthier environment for negotiations.

In addition to these metrics, it is essential to consider the local economic context. Factors such as interest rates, consumer confidence, and local employment trends can fluctuate, affecting buyer behavior and overall market dynamics. Sellers may need to be more strategic with pricing and timing as inventory expands.

Overall, with the balance in inventory levels and a rise in the average days on market, there may be advantages for buyers to negotiate offers, while sellers should consider pricing strategies that reflect the current reality.

Condos

Current as of 4.14.2025	Listings	Avg Price	Price per Sqft	Days on Market	Low Price	High Price	order_column
Active	399	318,444	274	67	179,900	699,999	1
Under Contract	125	315,999	261	75	190,000	535,000	2
Coming Soon	13	332,938	295	0	234,000	650,000	3

Sold as of 4.14.2025	Listings	Avg Price	YoY	Price per Sqft	Days on Market	Sold Price to List Price	Sold Price to Orig List Price	Low Price	High Price
Last 3 mos	300	324,703	0.0	268	52	98	96	162,000	665,000
Last 6 mos	538	317,022	0.0	265	54	98	96	160,000	865,000
Last 12 mos	1,153	314,516	0.0	267	51	98	96	160,000	865,000
2025	327	322,155	1.9	267	53	98	96	162,000	665,000
2024	1,143	316,027	2.9	268	47	98	96	147,500	865,000
2023	1,187	307,076	-3.6	260	41	98	96	100,000	650,000
2022	1,510	318,690	21.7	274	22	101	100	123,600	880,000
2021	1,949	261,803	23.3	222	16	102	102	83,000	980,000

An In-Depth Look at Mesa Condos

The Mesa condos/townhomes/patio homes market, as of April 14, 2025, has been influenced by several key trends that warrant a closer examination.

Starting with the number of active listings, there has been a substantial increase to 493 listings over the past month, a notable jump from 336 listings three months ago and 282 six months ago. This change allows potential buyers a broader selection, indicating a shift towards a more accommodating market for them. The current months of inventory stands at 5.8 months, revealing a relatively balanced market; typically, this suggests the market is not strongly favoring either buyers or sellers. In fact, when compared to previous measurements of 3.8 months three months ago and 2.8 months six months ago, it's clear that the steady increase in inventory has modified market dynamics.

As for pricing, the average sold price has risen to $320,681 over the past month, up from $314,723 three months ago, aligning with a healthy demand in contrast to the increased supply. Interestingly, the price per square foot for sold properties is currently averaging $262, up from $260 three months ago. This reinforces the idea that even as listing volumes grow, buyers remain willing to meet or exceed asking prices, although we see hesitation as they navigate the market.

Turning to the average days on market (DOM), we observe an increase to 72 days, which highlights that properties are selling more slowly compared to 87 days three months back. This slowdown could suggest that buyers are becoming more discerning, contributing to a rise in DOM. Consequently, listings may be subjected to longer negotiation periods, causing some sellers to reconsider their pricing strategies or adjust expectations.

In summary, the Mesa condos/townhomes/patio homes market is currently characterized by a noteworthy increase in active listings coupled with a sustained demand reflected in rising sold prices. Buyers have more options than they had in recent months, as seen by an increase in months of inventory. At the same time, the growing DOM denotes a shifting landscape that requires thoughtful pricing and sales strategies from sellers. Navigating these nuances will be key for both parties in this evolving market.

Land

Current as of 4.14.2025	Listings	Avg Price	Price per Acre	Price per Sqft	Days on Market	Low Price	High Price	order_column
Active	40	788,729	832,243	19	213	1	7,000,000	1
Under Contract	8	745,172	622,944	14	276	89,000	3,150,000	2
Coming Soon	0	0	0	0	0	0	0	3

Sold as of 4.14.2025	Listings	Average Price	YoY	Price per Sqft	Price per Acre	Days on Market	Sold Price to List Price	Sold Price to Orig List Price	Low Price	High Price
Last 3 mos	17	351,479.0	0.0	17	742,120	182	97	86	100,000	1,100,000
Last 6 mos	32	398,772.8	0.0	16	694,773	138	93	86	100,000	1,750,000
Last 12 mos	67	356,315.1	0.0	14	615,388	111	95	91	46,000	1,750,000
2025	17	349,970.0	27.0	19	820,132	177	97	86	100,000	1,100,000
2024	70	341,015.0	-6.9	15	646,022	100	94	94	4,000	1,750,000
2023	81	321,683.0	37.7	16	693,644	76	95	94	2,200	2,158,995
2022	95	353,019.0	-7.0	12	503,862	160	96	91	3,000	2,500,000
2021	132	398,392.0	64.4	12	541,563	161	95	95	12,000	6,650,000

An In-Depth Look at Mesa Land

The Mesa land market is currently experiencing nuanced shifts that warrant closer examination. As of April 14, 2025, there is a notable decrease in active listings, which has declined to 49 compared to 51 three months ago and 46 six months prior. This relatively steady inventory suggests a consistent demand from buyers, leading to increased competition. The Days on Market (DOM) for these active listings is currently 220 days, which is an improvement from 264 days three months ago, indicating that properties are selling faster than they were earlier in the year.

Interestingly, the average sold price for listings over the past 30 days stands at $220,000, significantly lower than the average price of $331,513 for sold listings three months ago. Furthermore, the average price per square foot for sold properties is currently $13, showing a slight decline in market pricing but potentially a reflection of smaller parcel sizes being listed and sold.

The market's months of inventory, measured at 8.6, signals a slant towards stability, though it is still higher than the preferred threshold of 4 months, which indicates a more balanced market. For context, last year this value stood at 5.0 months, suggesting a gradual absorption of inventory, yet still favoring buyers.

Despite the drop in sold listings to just 3 in the past month, the LAND segment appears to maintain an equilibrium due to consistent buyer interest. As it stands, the DOM metrics and the average selling prices suggest sellers may need to be mindful of pricing strategies as they navigate a softening yet stable market environment. Overall, while there are indications of pressure on pricing, the current fluctuations in listings and the DOM reveal a marketplace adapting to the dynamics of supply and demand, prompting both buyers and sellers to refine their strategies moving forward.

Multifamily

Current as of 4.14.2025	Listings	Avg Price	Price per Unit	Price per Sqft	Rent per Unit	Days on Market	Low Price	High Price	order_column
Active	22	864,850	222,283	318	1,200	176	405,000	3,150,000	1
Under Contract	8	537,363	215,869	260	979	38	330,000	845,000	2
Coming Soon	0	0	0	0	0	0	0	0	3

Sold as of 4.14.2025	Listings	Avg Price	YoY	Price per Unit	Price per Sqft	Price per Unit	Rent per Unit	Sold Price to Orig List Price	Days on Market	Low Price	High Price
Last 3 mos	19	652,866	0.0	202,023	220	1,179	98	94	49	290,000	1,400,000
Last 6 mos	28	596,600	0.0	213,970	207	916	99	97	34	290,000	1,400,000
Last 12 mos	61	614,563	0.0	209,184	213	967	97	95	38	290,000	1,600,000
2025	20	627,800	-3.2	200,700	221	1,088	98	94	53	290,000	1,400,000
2024	48	634,663	10.1	207,438	226	974	97	94	39	300,000	1,600,000
2023	56	783,593	-2.8	188,421	286	939	96	93	52	290,000	5,880,000
2022	91	716,444	22.2	193,904	251	1,009	98	97	28	100	5,000,000
2021	128	550,217	29.8	158,735	1,083	806	100	100	20	255,000	2,400,000

An In-Depth Look at Mesa Multifamily Dwellings

In-depth analysis of the multifamily market in Mesa reveals a complex interplay of supply and demand indicators that are crucial for understanding the current landscape.

The number of active listings has recently grown to 28 over the past month, elevated from 21 just three months prior. This increase in available units suggests that sellers are actively listing their properties, while the market demand appears to be stabilizing rather than expanding dramatically. As for the status of pending listings, recently, 8 properties are under contract, indicating that buyers are engaging with the market but may be more selective with their purchases.

Analyzing sold prices, we observe a significant drop from an average of $630,000 three months ago to $497,563 over the last month. This decrease highlights potential buyer resistance to current pricing or broader economic factors influencing purchasing decisions, urging sellers to consider more competitive pricing strategies.

The increase in average Days on Market (DOM), now at 169 days compared to 216 days three months ago, hints at a slowing pace for sales. Despite this rise in days, a longer DOM can often lead to market cooling, indicating that properties are experiencing longer selling times, which can be a double-edged sword; while some buyers may see this as an opportunity to negotiate better deals, sellers may quickly need to adapt to this evolving situation.

Furthermore, the current months of inventory calculated stands at 4.9 months, reflecting relatively balanced market conditions. Inventory levels are neither extremely high nor excessively low, which indicates a healthier environment for transactions. Properties tend to be in a state of flux, where active listings meet moderate buyer interest but face challenges in achieving expected sale prices.

In conclusion, the multifamily market in Mesa is characterized by a growing number of listings and adjusting price points, which requires both buyers and sellers to remain strategically flexible. Sellers should consider price adjustments and be conscious of the increased DOM, while buyers may benefit from the opportunity to negotiate terms in their favor. As the market evolves, keeping abreast of these shifting dynamics will be essential for both parties involved.