Mesa Condos Market Overview
Mesa Condos Market Highlights
As of May 5, 2025, the condo/townhome/patio homes market in Mesa is showing notable shifts, marked by varying trends across key metrics.
- Over the past month, the number of active listings has risen, now standing at 511, an increase from 416 three months ago.
- In contrast, sold prices have decreased to an average of $314,254, down from $325,690 three months ago, indicating some price softening in response to rising inventory.
- Furthermore, the average Days on Market (DOM) for active listings has risen to 71 days, showcasing a shift towards longer selling periods.
Curious how the Mesa Condos market has changed over time?
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Mesa Condos Market Report
An In-Depth Look at the Mesa Condos Market
In the Mesa condo/townhome/patio homes market, we observe an intriguing mix of dynamics as of May 5, 2025. Over the past month, the active listings have climbed to 511, a clear increase from 416 listings just three months ago. This uptick in inventory suggests a growing selection for buyers, which could lead to more competitive pricing strategies among sellers. Conversely, the average sold prices have recently adjusted to $314,254 from $325,690 seen three months prior. This decline of approximately 3% in sold prices reflects a broader trend where increasing supply is placing downward pressure on home values.
Moreover, the average Days on Market (DOM) has seen a notable rise to 71 days, compared to 50 days just three months ago. A higher DOM typically indicates a slowing pace of sales; sellers may be facing longer wait times to close deals, which indicates potential buyer hesitation or a transition towards a more balanced market. This trend is significant for both buyers and sellers as it allows buyers more time to make decisions, while sellers may have to be more strategic in their pricing to attract offers.
Focusing on months of inventory, it currently stands at 4.7 months, decreased from 5.3 months three months ago. However, at this level, it still signals a market that leans towards a balanced state rather than a decisive seller’s market. For context, a balanced market generally has about 4 to 6 months of inventory, so Mesa is right on the cusp. If inventory continues to rise, we might see further adjustments in both pricing and DOM in the coming months.
This evolving landscape presents unique opportunities and challenges. Sellers may need to rethink pricing strategies and marketing efforts to align with the prolonged selling periods, while buyers can take advantage of the increased inventory to negotiate better deals, especially as homes linger longer on the market. Understanding these trends and their implications will be vital for making informed decisions in Mesa’s residential market.
Brian Adamski, Realtor
18+ Years of Real Estate Experience | You Deserve to Feel Confident and Cared For
480-405-1265
