This Housing Market Update for Mesa, 85204, priced from $250,000 - $300,000 is produced by subscription to the Cromford Report. This area is seeing rising prices, quick sales, and a LOT of homes under contract.
Mesa is the second largest city in the Phoenix Metro Area with a population of almost 500,000. Industry in Mesa includes aerospace, cyber security, data centers and semi-conductors, with a great workforce population.
Mesa has a bustling housing market as these charts will show. Inventory is higher than in the last 4 years, but in reality there are only 16 homes for sale priced between $250,000 and $300,000 in 85204.
In all of Greater Phoenix, there are 1523 homes in this price range.
The Average Days on Market for Closing Sales is currently 42 days in Mesa, 85204 for homes priced from $250,000 to $300,000. The average for all of the Greater Phoenix area in the same price range is 58 days. This price range sells fairly quickly, but even faster in Mesa.
Listings under contract have spiked in this zip code, showing 26 homes under contract in this price range, higher than the housing market during the past 8 years. But the number of pending sales shows a very healthy housing market.
Sales have skyrocketed in this price range as rising prices and low inventory, coupled with low interest rates, has put upward pressure on prices and sales.
To understand the housing market in 85204, this chart shows the rise in Median Price Range. Currently, the Monthly Median Price Range is $236,000. At the peak of the housing boom, the median price in 85204 was $225,000. This zip code reflects the same type of growth that we're seeing throughout Maricopa County.
In summary, if you're looking to buy and sell in this price range, get pre-approved and contact me because this price range requires buyers to be ready to buy!