Mesa, AZ home prices and housing market

Mesa is a buyer's market this month, and the clearest sign is the price cutting. About 30 percent of listings have already dropped their asking price. That is a market where sellers are setting a number, waiting, and then adjusting down to meet reality. You can see why in the pace of sales. The typical home is taking about sixty-one days to sell, so buyers have time to think and negotiate. There are roughly one thousand three hundred homes for sale, and around 560 new listings came on, so choices keep coming. Meanwhile values have softened, with the typical home worth about four hundred six thousand dollars, down about half a percent over the past year. The median list price sits near four hundred thirty-nine thousand dollars, above what homes are actually worth, which helps explain the cuts. If you are selling in Mesa, the takeaway is simple. Price it right the first time. Chasing the market down with repeated cuts is how homes here sit for two months.