Mesa Land Market Overview
Mesa Land Market Highlights
As of May 5, 2025, the land market in Mesa demonstrates a blend of shifting trends worth noting.
- Over the past month, active listings have seen a slight rise, totaling 46 compared to 44 three months ago.
- Days on market (DOM) for active listings have extended to 225 days, reflecting a longer duration for homes to secure buyers.
- Average sold prices witnessed a notable increase to $326,249, showcasing growth in buyer interest relative to earlier sales.
- The months of inventory currently stands at 9.2 months, indicating that while there are more active listings, the market is absorbing them at a slower pace.
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Mesa Land Market Report
An In-Depth Look at the Mesa Land Market
The current landscape for land in Mesa, as of May 5, 2025, presents intriguing dynamics. In terms of active listings, there has been an increase to 46 homes, which reflects growth from 44 listings three months ago and 53 six months ago. This slight upward trend indicates that supply is stabilizing, though it still falls behind the numbers noted a bit earlier in the year.
When examining the pricing metrics, the average sold price has climbed significantly to $326,249 over the past month from $259,500 three months prior, underscoring a rising buyer confidence that may link to factors such as local economic conditions and buyer demand. The current average price per square foot among sold listings stands at $19, maintaining a competitive rate that could attract potential investors seeking land in the area.
However, the average days on market (DOM) stretched to 225 days this month, which is a marked increase from 269 days just three months ago. This trend underscores a pivotal shift in buyer readiness and decision-making processes. The lengthening DOM can be attributed to both a hesitative market as buyers adjust to fluctuating prices, alongside broader economic uncertainties that may heighten caution.
The number of months of inventory currently resides at 9.2 months, indicative of a market where listings outnumber active buyer engagement. This ratio suggests that while demand exists, it is not sufficiently robust to drive quicker sales, mandating sellers to be realistic in their pricing strategies to enhance appeal. Compared to 7.8 months from three months ago and 13.3 months six months ago, it exhibits an adjustment where the available property supply is encouraging a more balanced negotiation landscape, albeit with slower transaction velocities.
In summary, while Mesa's land sector is seeing upward movement in terms of average sold prices and the total number of active listings, indicators like DOM and months of inventory suggest the market remains cautious, calling for both buyers and sellers to strategize with care as they navigate this evolving landscape.
Brian Adamski, Realtor
Your Go-To Realtor for Mesa | Built on Relationships, Not Just Transactions
480-405-1265
