Homes in Zip Code 85203: Market Report May 2010

Zip Code ~ 85203 ~ Market Snapshot
Mesa, Arizona
Residential Market
May 30, 2010

Wondering about homes in Zip Code 85203? Then this is a report for you.  What is this market segment all about? How is the best way to find my perfect next home? Call an expert to help locate one for you.

ZIP code 85203 comprises a 11 square mile area of North Mesa. It lies between Main Street in the south and the Salt River in the north. The western boundary is Mesa Drive and the eastern boundary runs along Gilbert Road.

It includes the Royal Palms Golf Course, Candlelight Park, Pioneer Park, Porter Park, the Park of the Canals, Lehi and Mesa General Hospital.

Active Listings
The month of May reported 117 residential property listings compared to 142 in April, marking a 21% downward movement on active listings, and which is flat from 114 just a year ago. The market is in a general upward trend in homes in Zip Code 85203. The federal First Time Buyer tax credit has affected the market in many ways. We are all waiting to see what transpires in the next 6-12 months.

Pending Listings
May ended with 71 pending listings, up 28% from 51 for the month of April, and flat from 71 for May a year ago.

Sales Per Month
Sales per month decreased from 40 in April to 34 for May, a 18% decrease. The prior month of May 2010 was 25.

Month's Supply
The month's supply of single family detached homes decreased in May to 3.4 compared to 3.6 at April 2010 end, and 4.6 a year ago in May.

Annual Sales $/SF
May 2010 annual sales per square foot ended at just over $76; this compares to a near flat $75/SF in April, but down from $96/SF in May 2009, or a decrease of 26% May on May.

Summary
The real estate activity numbers for homes in Zip Code 85203 are still in good supply in East Mesa AZ and  are generally up from a year ago. The federal tax credit seems to have pushed some velocity to the sales cycle, but it still remains to be seen if the market will increase further, stay steady, or drop.  Stay tuned, and we will keep you updated.

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Bryan Watkins is a savvy Realtor® in the East Mesa Zip Code 85203 and neighboring Zip Codes in the Metro Phoenix East Valley. You can text him at 480-734-7878 or email at bryan@LRAphx.com for more information on homes and other fine properties. Want to view MLS exactly as an Agent sees it? Then jump to www.LRARealEstate.com for a fast start. This info was gathered from MLS, Wikipedia and the Cromford Report.

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