Mesa AZ Real Estate Housing Market Report - July 2022

Real Estate Agent with HomeSmart License # SA577557000
Here is the most recent Mesa AZ Real Estate Housing Market Report for July 2022:
The average sales price of homes in Mesa has decreased for the third time in the last five months, going from $571,498 in June to $538,739 in July. This is a fairly significant decrease, yet the average sales price of Mesa homes has still increased in 15 out of the last 20 months.

The average sales price per square foot of Mesa homes has seen back-to-back decreases after remaining the same or increasing for 29 consecutive months. The price per square foot of Mesa homes decreased for the first time in over two years going from $294/sf in May to $291/sf for June and dropped to $281/sf in July. Even with the decreases in the last two months there has still been an increase of $41/sf since July of 2021.
After decreasing for four consecutive months, the days on market for Mesa has increased two months in a row, going from 21 DOM in May to 30 DOM in July. The days on market is still very low for Mesa, and that means that homes in Mesa, AZ will still be in high demand throughout the remainder of 2022.
Click on the image below to read the full article and see what is going on in the Mesa Arizona real estate market.

Feel free to reach out to me if you have any questions about buying a home, selling your home, or investing in the Mesa, AZ or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me,
it's about making a difference in the lives of others"
Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
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Comments (4)

Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Mesa home buyers and sellers are sure to value your real estate market report, Troy.

Aug 17, 2022 05:15 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Troy I had a number of back and forth emails with a repeat client not always loyal argue with me that prices have not come down... kept trying to explain to him that it depends on locations... it is like micro markets just like wineries in Napa they are not all the same.... wine is not wine... finally I told him we are not on the same page and I can not convince him and vice versa... difference is I look at every micro market and he does not... he only wants to see numbers that fit his belief system, Endre

Aug 17, 2022 10:50 PM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Thanks again for always supporting my blog posts Myrl Jeffcoat.

Aug 18, 2022 01:24 PM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Endre Barath, Jr., I couldn't agree more. Each neighborhood can be different as to whether prices go up or down. If you are a home seller right now, you probably do not want to hear that in some area's prices are dropping, and it is difficult to convince people even when you have the data that proves it.

The market is definitely changing in my area. The increased inventory of homes makes a huge difference, let alone interest rates and many other factors such as inflation, etc.

Aug 18, 2022 01:28 PM
Endre Barath, Jr.

Troy like you stated sometimes it is hard to convince people when they mad up their minds facts or not.

Aug 18, 2022 03:33 PM