Top Real Estate Agents in Mesa, Arizona

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2023 Mesa, Arizona Housing Market Summary

Mesa, Arizona started 2023 with a total of 841 single-family homes on the market, with a median home price of $489,000 and an average price per square foot of $271. By the end of the year, inventory had decreased to 646 homes on the market (-23%), with a median home price of $519,945 (+6%) and an average price per square foot of $286 (+5%).

At the start of 2023, the median days on market (DOM) was 70 days – by the end of the year, median DOM had decreased to 49 days.

Mesa started the year with 61% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 48% of Mesa homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Mesa started 2023 as a seller’s market, with an MAI score of 42; by the end of the year, the MAI had dropped to 39 – a slight seller’s advantage.

This market summary is powered by Altos Research – click here to run a free report for your area.

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